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?
Whenever a certain project does have a freefall or having a plunge then you would be mainly thinking that there's might something wrong but you should be looking around if Bitcoin is really mainly on downtrend?
Because this is usually most projects in the market would be dragged down below without having any reason as long Bitcoins price is going down and this one is something that absolute most of the times.
If not then you could always make out some research on whats the actual reason of the dip? If there's none then this is where you would really be making out some technical analysis because this is where
usually people or traders would really be basing up their entry point basing into those potential points which the price could possibly go down even more. When it comes to decisions then this is where
it would really be depending according into your likings or preference and this is something will really differ into each other. We do have different approach when it comes to selecting
projects and this is why if you do see that Optimism and ImmutableX is something that is good to be dealing up with then its your actual choice.