I added to my EOS position March 27 at ~$6.15. Booked a 185% gain in just over a month. I am letting the principal ride as this is pure profit harvesting.
Did I sell the recent top? Nope. Called it, didn’t trade it. Story of my life. This chart was screaming sell. I mark the 4.618 fib as overbought on all my charts. Problem was EOS blew past that to $23 and I switched gears to charting EOS at $50 because I am greedy animal trained in the crypto circus to always push my luck.
EOS may hit $50, but not in one sweep. The once in a lifetime run of ETH from $6 to $1,000 in 2017 is not guaranteed to repeat. Given I’m in EOS under $5 for my core holding I have plenty of room to play this lotto ticket.
Overall the crypto market is dancing on the edge of a cliff. So many charts have bullish setups but if this rally fails it’s a quick trip down an elevator to hell. Couple of charts I’m watching.
BTC falling out of this pitchfork could move entire market down. Breaking the double top may put BTC in bull mode and could decimate most alts near term.
BCH has an Adam and Eve PLUS a Cup and Handle PLUS heavy resistance at the triple top. Flip a coin. One thing, if BCH breaks $1600 I expect it will explode upwards.
Long term Crypto is still a once in a lifetime investment opportunity. And it’s volatile.
Near term, whichever way the market moves next will set the tone for Summer.