It's today the time to buy Ethereum? (Technical Analysis 25 June 2017)

I took a position in Ethereum today and I want to explain with my technical analysis why I took that position. You can also look at the video to see the actual technical analysis.

As I'm buying from Euro FIAT I'm analysing it on the ETH/EUR pair on the Kraken exchange which is the one that I use.

The first step was to use the Fibonacci Retracement (I explained on previous videos how to use it). FR gives me the buying area between the 78.6% and the 61.8%. I like this area because usually institutional inverstors buy on that area. I don't know if it is a self fullfilling profecy or it's Fibonacci numbers making a good job as they usually do in so many things in nature.

I didn't look only at the FR but also looked at the RSI and MACD indexes. The first one was telling me that the pair was oversold and the second that the red moving average was crossing the blue one from above. So all three signals were saying buying opportuinity.

I ended up buying at 272.0003 EUR (I used limit order at .0003 because there was another order on the ledger for .0002 so I wanted to get infront of it without buying at market price). From here it could go down still a bit and I should hold for the medium-term (days/weeks) for the pair to go significantly higher.

To find out what the selling area would be I use Fibonacci Extensions and the levels between 100% and 127%. Withing that range it is 350 EUR which being a psciological level I would probably target for that level to take profits.

So we will see how it goes, if I earn money or I lose it. You are going to be able to see it with me if you follow me.

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