As always, the technical shorts came in and took their bets at appropriate prices. Stop losses triggered from technical wedge, and everything appears to be going according to the plan for bears.
This is a spook sell off that we observed in April, before we rally, and in July and now we are seeing it again. As you can see 1-2 is getting longer, indicating a LONG position is emerging here.
The global monetary markets are not the same anymore, since the last time we had these spooks.
As emerging markets continue to decline. People are not stupid. They will continue to accumulate Bitcoin, here and there.
These are Emerging markets, they are weak hands, new players. They don;t know what is going and how crypto works.
Well, then came mid August, and something changed. As if the veil of bubble from the ever debt economy was lifted and reality started to pour in.
First, it hit the weakest, then it is going to question those that are considered safe, and eventually it will hit right back to EU, USA and Asia.
Will crypto save them - not sure of that, but lets imagine it might. As adoption for 2019 is going to be even bigger, than before.
For now i wish everyone not be spooked by this drop. Cause that is what it is a technical spook. When shorts become obvious, it is obvious we are at the end of the bear trend.
Good luck and thank you for letting me get more ripple at 27cent I mean, i never thought i would see these prices again!
**LEGENDS** BLUE = Bear/Resistance Yellow = Bull/ Support
~Explore the chart for possible scenarios of price actions - use zoom and scroll for better view.~ /*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/
If you want your coin to be analysed, JUST ask. If you got a question, ASK away! And please keep those Stop losses in place!
Thank you, Ajion
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Damn, yet again we have got to crush the 6.5k bears.. Lets see.
Thanks for the chart analysis my friend, pretty good.
Ajion
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@alanmasters, thank you.
eduardokaykedasilva
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Ajion, thanks for another look! I'd like to talk about 3 coins. DGB, XVG and TRX. The three are still within the trend, even with this fall of the BTC! And I'm looking at the graphs, I think we're going up. now I do not know if I'm right, could I give the air of grace with your perspective on them?
Ajion
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@eduardokaykedasilva, I do think they are going to continue to climb up. This drop did not affect them much. Those that bought at the right time are still in solid green, and worry little about this btc drop atm.
eduardokaykedasilva
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@Ajion,
I've only been in this market for 8 months, so it's great to ask older players' opinions. Sometimes we make mistakes in the interpretation of the graph due to lack of knowledge. Thank you very much.
Ajion
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@eduardokaykedasilva, even older players make mistakes, this why we got stop loss :)
Boss_Coyote
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Thoughts on LTC
Ajion
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@Boss_Coyote, simple answer: LTC follows BTC. But let me do an analysis on, it ihas been awhile.