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I've been closely monitoring the market developments and have remained in a cash position since the price was at $2800. The similarities to previous bull traps post-bubble in the crypto space seem strikingly familiar to the current market situation. Additionally, there is a prevalent "to the moon" sentiment across all ETH/Crypto subreddits. True capitulation and despair have yet to set in during this cycle. The discussions around a potential super cycle or reaching new all-time highs appear to signal peak euphoria/denial/new paradigm, which is why I am taking a contrarian trade approach. I plan to start entering the market at $1800 and will gradually average down my position as we explore lower price levels. The purple zone on my chart is where I intend to make most of my purchases, with a long-term investment strategy in mind. I am bullish on ETH's future and aim to accumulate a significant amount, which will eventually go into a self-run staking node. If the price drops below $1000, I am prepared to significantly increase my holdings.
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Still actively monitoring the situation. Despite the challenge of waiting on the sidelines while witnessing significant price surges in the cryptocurrency market, my investment thesis is gradually unfolding. I am particularly interested in potential entry points ranging from $2,000 down to $1,300. Planning to employ dollar-cost averaging in these zones and considering substantial investments should the price reach the lower end of this spectrum.
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Still waiting to receive my entry. Will it be delivered to me soon?
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After waiting patiently for nearly a year, I've finally made my move. Significant market buys are currently being executed, with the potential for more at lower levels if the price continues to decline.
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This concept was revamped with a fresh approach. I successfully hit my target area, and ETH has been trading within this range as I implement Dollar-Cost Averaging for my long-term accumulation strategy.
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Happy to have acquired those $1000 worth of ETH!
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I established a significant position in the original purple zone on this chart and the subsequent part 2. I continue to hold that ETH and have kept it staked since acquisition. Although I missed the major second blow-off top in the bull run, I am satisfied with my initial entry. Staking the position has generated a decent income for me.
