It appears that ETH has hit the 470 mark 3x as resistance. It did this at the 400 area as well and broke through on the 3rd attempt I believe. Some are saying that it is somewhat possible to break this 470+ mark and get to 500 or so. For me... WOULD it be worth it to ride it just a little more since some are calling for a retrace soon?
The risk reward of riding to the top and then selling when everyone else is selling is a recipe for losing, stressing on the keyboard, and asking "why didn't I just sell when I had those profits locked in and no one was really bailing yet?"
If you look at the 15 minute MACD when it was up last from 455 to 470 - total of 15 points. So at 466.90 it could go up and break through but at the 5 minute MACD it indicates downward depending what second you're looking at the chart.
These are just some of the things I look at when trading. What are the odds of more - what's the risk reward - do I want out with a guaranteed 75%... or a possible 100% gain depending on your position?
I would rather ease out and not risk so close to the top.
Others may do even better and ride it up. To each his own. Best of luck in your trades.
If it goes to 500 hats off to you all. I'm waiting for a retrace.
The risk reward of riding to the top and then selling when everyone else is selling is a recipe for losing, stressing on the keyboard, and asking "why didn't I just sell when I had those profits locked in and no one was really bailing yet?"
If you look at the 15 minute MACD when it was up last from 455 to 470 - total of 15 points. So at 466.90 it could go up and break through but at the 5 minute MACD it indicates downward depending what second you're looking at the chart.
These are just some of the things I look at when trading. What are the odds of more - what's the risk reward - do I want out with a guaranteed 75%... or a possible 100% gain depending on your position?
I would rather ease out and not risk so close to the top.
Others may do even better and ride it up. To each his own. Best of luck in your trades.
If it goes to 500 hats off to you all. I'm waiting for a retrace.
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5 MACD
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1 Day shows how close we may be to going down when assessing historical timeline.