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I got some ETH at $230-$240 range but it would not surprise me if we see a $170-$180 range (next resistance level) the next hours.
Resistance level? It's 2017 and you still believe technical analysis BS?
EDIT: The pair in the image is ETH/EUR
> The cryptocurrency traded at $3,601.40 at 7:58 a.m. in New York, far below an all-time high of $5,013.91 set earlier this month. That's a 28% drop from the high. For normal securities a price drop like that in less than a month would be considered a crash. Does it count for BTC as well or are the elevated levels at the start of the month with too thin a volume to be considered legit?
Even stocks can rise 7% a day. Just some extra bad luck with stock exchanges in china and reaching 5k $
We will see how far it goes this time and when the big traders come back marching in ;)
Earlier quoted context omitted.
I got some ETH at $230-$240 range but it would not surprise me if we see a $170-$180 range (next resistance level) the next hours.
Resistance level? It's 2017 and you still believe technical analysis BS?
A normal stock has the underlying company, earnings, performance, forecasts, etc. to sort through and figure out where it is headed, but ETH and BTC have no such thing. So what better way to analyze than TA?
> The cryptocurrency traded at $3,601.40 at 7:58 a.m. in New York, far below an all-time high of $5,013.91 set earlier this month. That's a 28% drop from the high. For normal securities a price drop like that in less than a month would be considered a crash. Does it count for BTC as well or are the elevated levels at the start of the month with too thin a volume to be considered legit?
Biggest gain and loss only for today has been 17 and 18 percent respectively. While one can argue on a stable stock vs BTC but that is not a fair comparison.
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what is a better way to decide on buy/sell signals for cryptos in your opinion? Genuinely curious.
1. Buy coins. 2. Shut the fuck up about "signals" and "trading" 3. Build cool apps around the crypto ecosystem 4. See more and more people using cryptocurrencies 5. profit
So it's lost half of its gains since early August. Bitcoin almost defines volatility.
Market cap is the main reason in my opinion. The more people get involved the less volatile it is going to be. You should see how volatile BTC was in 2011-2012, what is happening right now is nothing in comparison.
The price of bitcoin can literally fall to zero. With fiat currency, achieving that would require the government losing its power to enforce tax collection.
People losing interest in a fad seems to be a bigger risk than a governmental collapse.
Earlier quoted context omitted.
Resistance level? It's 2017 and you still believe technical analysis BS?
Humour me here: Wouldn't technical analysis be a good way to analyze something like ETH or BTC? A normal stock has the underlying company, earnings, performance, forecasts, etc. to sort through and figure out where it is headed, but ETH and BTC have no such thing. So what better way to analyze than TA?
Take note, high-risk investors: now is a good time to buy.
So it's lost half of its gains since early August. Bitcoin almost defines volatility.
Market cap is the main reason in my opinion. The more people get involved the less volatile it is going to be. You should see how volatile BTC was in 2011-2012, what is happening right now is nothing in comparison.