What happened with Ethereum on GDAX?
Here is my take on it:
Step 1 - a big whale sold lots and lots of his ETH which made the price break down significantly.
But this was not the real reason for the huge jump back to the $13 mark of ETH.
Once the price went down a certain percentage hundreds of stop orders triggered. This was the real reason for ETH to go back down so much.
I wish I had put a sell order on GDAX for ETH for $13 :)
The price recovered pretty quickly. ETH is the most important token for most of the ICO`s at the moment.
This makes it such a strong cryptocurrency.
So what did I learn from this breakdown?
I will pick my 2 favorite cryptocurrencies ans put a buy order at a really low level, just in case :)
Other than that I will keep buying mid-caps at the ground price level and just hold them and check the price daily. Some of them I just hold for long term, some of them I trade with on a daily or weekly basis.
Most of the coins I own are all payed off from the profits I made anyways.