We saw a 17% drop along with dumps in the 30% range for alts. My prediction from here is that everything starts to collapse due to the fact that we've broken through a key trend line and have begun our distribution or downtrend phase which is easy to see with the price action. We'll make an attempt upwards, but there won't be enough buying pressure which will eventually form your standard head and shoulders pattern where things begin to decline.
At the end of this current push, I also believe we'll find support between the 28-32k range due to BTC always generally falling to these levels that I backtested with some simple fib retracements.
Comment:
Will history repeat itself? (2017)
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We saw a 17% drop along with dumps in the 30% range for alts. My prediction from here is that everything starts to collapse due to the fact that we've broken through a key trend line and have begun our distribution or downtrend phase which is easy to see with the price action. We'll make an attempt upwards, but there won't be enough buying pressure which will eventually form your standard head and shoulders pattern where things begin to decline.
At the end of this current push, I also believe we'll find support between the 28-32k range due to BTC always generally falling to these levels that I backtested with some simple fib retracements.