Having limited to no historical evidence to work on, it can be tough to pick support and resistance levels. I am basing this buy opportunity around a prediction that 0.12000000 will hold as support. And a continuing growth of the overall crypto-economy.
This is why I trade BTC-Alt coins.
In day trading I was essentially trained to take money from a devaluing economy. During training, my mentor described trading Fiats as "think of it as a race to the bottom." Using this principle, trading crypto's could be described "a race to the top".
I believe we could see a US$1trillion market cap for the overall crypto-economy as soon as 2020. This means I am trading in an economy which will 10X in relative value (more if you account for the devaluation of Fiat's by 2020).
I have also noticed a trend which mirrored my own venture into the crypto world. I found Bitcoin first. This quickly led me to Altcoins, and of course, now I am mainly looking at ICO's. I believe we can look to Bitcoin increasing as an early "indicator" that money will soon flow through to the rest of the economy.
With research and patience, I believe ICO's offer the best potential for those really big gains. From memory, Ethereum was offered at approximately US$0.30 at the ICO level. That's over 1000x. Or to put it very simply $1,000 at ICO makes you a millionaire today. (Please feel free to correct in the comments, those prices are not quotes and are approximate and from memory only)
I am not looking for short term gains. My calculations have Ethereum reaching the eventual Bitcoin ration of 0.20000000. (might take a few years) but as you all know, I'm an investor, not a day trader.
And for those of you still playing the Fiat game. 1 ETH should = between $1,000 - $2,000 coin by 2020. If my calculations are correct.
Please do your own research to confirm what I see as good buying on the BTC-ETH trade.
For those offended by the very graphic nature of the rap I wrote calling out JP Richardson (CEO & Founder of Exodus) I do apologise, (funny though, right?). My family has worked extremely hard, which fortunately leaves me in a position where $5 is not going to have an affect on my life. But I am big on principal.
The CEO and founder of a major crypto and trading platform had time to personally respond, and insult a new customer who does struggle with computers. I would never invest money into or use a company where the CEO has this much time on his hand. I would strongly advise against the use of the Exodus trading platform, wallet, or any other Exodus based products.
And to JP, the video is in production mate, standby to go viral.
Cheers frothers,
Fish