I have bought into Bitcoin at around $850 CAD just based on the idea I'm long on blockchain and crypto in general and ethereum had climbed way less than bitcoin since their highs in 2018. Bitcoin surpassed its previous 2018 high on around Dec.16th which around $20,000CAD. It is currently around $35,000CAD or up 75% since its previous high. In the case of Ethereum its previous high in 2018 was around $1,750CAD. It has a resistance point around $960 and breached that on Jan 3 and then brokeout. It started the year at $930 and has blown by the 2 other potential resistance points at $1,000 and $1,250 and is currently at $1,450 testing its next resistance at around $1,515.
I am long that Ethereum is going to test its previous 2018 high at around $1,700 and then could massively breakout. As I have been following this, I have already seen bitcoin investors funneling their cash into Etherum as it broke previous resistance. Look for that to happen again as it approaches it $1,700 high and then upon breakout. This should continue long and ride crypto and Bitcoins coattails to new highs. Right now my support is at $1,250 and a stop loss and taking gains at $1200. Worst case. Look for $1700CAD to be the new support if it breaks it.
I am long that Ethereum is going to test its previous 2018 high at around $1,700 and then could massively breakout. As I have been following this, I have already seen bitcoin investors funneling their cash into Etherum as it broke previous resistance. Look for that to happen again as it approaches it $1,700 high and then upon breakout. This should continue long and ride crypto and Bitcoins coattails to new highs. Right now my support is at $1,250 and a stop loss and taking gains at $1200. Worst case. Look for $1700CAD to be the new support if it breaks it.