I've been interested in adding Optimism and ImmutableX to my portfolio but their price has been inflated after big run ups.
Now they are both in freefall and I'm considering an entry point.
How do you decide where to take the plunge? A certain %drop from the top or a %above bottom?
Or do you just look at previous levels as the traders always mention, Optimism is getting close to some previous tops at $1.3 for example?
Or do you get buy targets from another source?
I have the personal policy of never trying to catch a falling knife no matter how attractive a project could be, if the coin in which you want to invest is still experimenting a sharp drop then stay away from it and be patient, you need to wait until the drop ends and some sort of stability is reached, doing anything else other than that will expose you to massive risks and the chances you will lose your money will increase immensely.