I am a newbie to cryptos, but I have experience trading in stock and options markets. Sold my small position in ETH this morning. Bought at $264, sold at $261. I think we go lower in the short term. My short term target is about $225-230. Any traders with any thoughts?
if you are indeed new to this you need to know one important thing: this market is different from Stocks market in many aspects.
the biggest thing you will notice is all the manipulations. when someone owns majority of the "shares" and also has lots of money they can easily manipulate everything.
also you need to know about what affects the prices.
for example in case of ethereum the ICOs have been increasing the price of ether artificially. and it is actually scaring me to want to enter it now because all these funds will soon start exiting and when they do they will crash the market with themselves.