Ethereum USD - Acting like a teenager on drugs?

Is Ethereum acting erratic? Yesterday it had a massive rally from a continuation of the short term reversal at the 215ish lows. Sorry for my detailed inaccuracy, I can only get so detailed with Tradingview but maybe there are ways. Going back to the topic, it may seem to you that this crazy swing of nearly 33% of its total value can be hard to stomach.

Ethereum it is kinda acting like a teenager on drugs. And that is why my dear steemians, it is for me such a great trading instrument. Before I go off-tangent, which I almost did, let's look at the chart. Last night, I had an interchange of ideas you can find here with a fellow steemian @dobe4ever about commenting on possible crypto bubble. Do check the original post out too if you have a moment :) I think it has some merits. I saw ETH reaching an inflexion at that point last night, which could in part help dismiss the theory of bubble as ETH could hold if it broke the downtrending red dotted line you see in the charts. Yes, while I am open to the idea that Ethereum could be reversing for all that is worth and plunge into anonymity, I also hold the idea that it could also rip higher, much much higher since bubbles can last longer than you think. I took a small short position with the chart on my head, and covered this morning for a small profit, with the possibility of buying it back once it touches that green bubble area. If I zoom closely

I spotted the Spike and Channel formation. I marked it in bold black, and it looks like a flag. Once it broke the bottom of the spike, I knew there were a great chance it could return back to the base of the flag. So far it is still in development, but I will update you on this.

image credits

So why I do write such a lengthy post predicting something that might not even happen??? What am I trying to say if you're scratching your head, is that I am not here to give predictions, but possibilities of things playing out. With that little useful knowledge in mind, I can prepare myself with 'What If' scenarios. I play both long and short, but do not recommend it unless you have a good grasp on technical-analysis.

I think new traders can benefit if they realize several things here:

1. Identify points of entry for long term trades. You can be an investor and still take useful ideas from technical analysis.
2. Due your own diligence before buying anything. That could be your next car, your next cat or dog, your next million-making crypto.
3. I say this again and might start sounding boring. * Be Patient* and let price come to you.

Feel free to comment, post your own technical-analysis, ask me questions, tell me how wrong I am (love to hear). Also if there's any crypto you would like me to look at, I would be glad to :) I am an architect who loves to draw lines.

Until my next post, and live well.

Announcement: You can catch my new posts everyday @7:30am EST, with possibility of adding another one at 1:00pm EST. Check back often and thank-you for reading -cheers