Originally posted on this link : https://goo.gl/4JDRB4
A number of traders typically email me and ask one most common question, “Should I buy crypto currencies now?"
In my March newsletter I did a chart analysis on Ethereum and Bitcoin and recommended to wait a couple of months for the price to come down to a value zone or the Buy Zone.
ETH was printing $845 in early March and most analysts then supported a big up move starting from the $845 level as it appeared to have completed Elliot’s ABC or even Head and Shoulders patterns.
My analysis differed strongly.
I mentioned the price at that time was finding resistance at the 200 period Moving Average and will eventually break down and come to the Buy Zone under $450.Right now, ETH is in the Buy zone ($375) and this will be a perfect moment to enter a trade for mid to long term view (from 3 months to up to 9 months of hold period) to take profit at $1000-$1100 range.
That will be a 170% return!
If you manage to buy around $300, that will be a steal, but at $375 entry it has practically entered a low risk high return zone.
About the Author
Ramesh is an active trader producing over 200% gain in 2017 and author of 3 trade strategy development books sold on Amazon. He is the creator the10/20/30 Rule™ that could transform a mediocre trading system to become a top performer by following a systematic and thoughtful approach on strategy development.
website: www.forexnewrulebook.net
