DOT has been in distribution for months (basically after listing lel) and is very likely to break bottom support line which will probably take it back to its binance listing price.
Currently I think it is probable to break down the channel due to further bearish price action on smaller time frames.
Many other alts like EOS LTC DASH IOTA showing similar bearish continuation or distribution structures.
My asssumption is that BTC is going to be kept afloat due to BTC flowing out of altcoins and would be slowly melting up through current weekly resistance at 14k.
Alts will crash -40% at least during november and would find their bottoms at beginning/mid of december.
Just my current crypto market view.
Cheers,
Barren
Currently I think it is probable to break down the channel due to further bearish price action on smaller time frames.
Many other alts like EOS LTC DASH IOTA showing similar bearish continuation or distribution structures.
My asssumption is that BTC is going to be kept afloat due to BTC flowing out of altcoins and would be slowly melting up through current weekly resistance at 14k.
Alts will crash -40% at least during november and would find their bottoms at beginning/mid of december.
Just my current crypto market view.
Cheers,
Barren
Comment:
no bearish confirmation. no lows. no trade