Gdax - Ethereum breakdown - Price back to $13 - Did you buy?

ETH-USD-GDAX.png

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.

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Thank you for sharing

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You are welcome my friend!