It's been almost two weeks since I last visited here. 

I have been busy preparing our own ICOs. Yes, two ICOs coming in 2 months (we hope all goes well by then; one of the reasons for the timing you'd find out later on this post). If you're curious about it, here's a sneak peek: https://www.mcafeecoin.com/

We buy with the long-term belief that the cryptocurrencies are changing the world, for the better. This strong conviction has afforded me the peace of mind in holding onto our BTC (at around $430) and ETH (around $8), and buy more whenever there's a dip. We invest for long term, but we trade for the very short time frames, from a few seconds to a few hours. But don't try this at home, kids, as the TV commercials say.

BTC:

To me, BTC is not in a correction yet, much less a bear market. It hangs tough at the all-time-high level when you look at the weekly chart. But if you only look at the actual points from its all time high, it's a big drop of roughly a thousand dollars. 

Is that scary? No! 

If you are concerned about the points, you are a short-term trader. For any (good) short-term trader, any such volatility is certainly great for you. But if you're a long-term investor, the drop is not big enough, as it is still way above it's up-trending slop.  You wait for more downside, like me, to buy more. 

Can't you see that if BTC is $1,300, it IS still in a bull market?

Don't mix trading with investing. They are two totally different animals. But sadly most amateurs do.

ETH:

ETH has broken down below its upward strength for about 2 weeks now. For some of you who bought it at $400, it is somehow painful. But our readers know that you shouldn't be buying when it was so much above the up-tending line. 

Where will ETH be going from here? 

I hope it will go down more for the next 2-3 months. But it may just go somewhere on a side-way pattern. Either way, we welcome this much needed consolidation. 

And it will be great for our ICOs. Call it timing, or just luck. 

Now you know why I have been busy getting the ICOs ready. You want to offer your ICO when BTC and ETh prices are low, not at the all-time high, although a few years from now, who cares!

XRP:

Like ETH, XRP has broken below the powerful uptrend, from mid March to mid May, and it's going the side way since. It has also recently tested the lower trading range around 0.175. 

Keep watching. That's all I know.

Previous Post In This Series:

ETH at $305. It Could Be Bought at $230 If You Read Post On 07/25 (Price Action Updates & Ongoing Thoughts #12)

ETH at $276. It Could Be Bought at $230 If You Read Yesterday's Post (Price Action Updates & Ongoing Thoughts #11)

ETH Looks Interesting! BTC, ETH And XRP Price Action Updates & Ongoing Thoughts (#10)

Cryptocurrencies Are Charging Back Again, And Now You Don't Hear The Naysayers! BTC, ETH And XRP Price Action Updates & Ongoing Thoughts (#9)

Stop Panicking! BTC, ETH and XRP Price Action Updates & Ongoing Thoughts (#8)

BTC (All-time High), ETH (All-time High) and XRP Price Action Updates & Ongoing Thoughts (#7)

Ethereum Will NOT Fail and BTC, ETH and XRP Price Action Updates & Ongoing Thoughts (#6)

Bitcoin (BTC), ETH and XRP Price Action Updates And Ongoing Thoughts (#5)

Bitcoin and ETH Price Action Updates And Ongoing Thoughts (#4)

Bitcoin and ETH Price Action Updates And Ongoing Thoughts (#3)

Hope Bitcoin Price to Drop More... (#2)

10 Months ago, When Bitcoin Was About $665, I turned bullish. (#1)

bitcoin goes to US$50,000 - 1,000,000 in 10 to 20 years! (#0)  

Upvote, Comment and Follow me @longnshort | I will always follow you back!