https://228main.com/2015/11/23/anatomy-of-a-bubble/
- LOOK AT THE LINK. IT HAS A BUBBLE GRAPH, AND NOW LOOK AT LTC/USD 1 DAY CHART. AND READ BELOW.
Looking at the 1 DAY chart on LTC, you can see, for the short term, we are pretty much screwed. This bubble is about to pop for good. We are reversing from the "return to normal" phase to "fear". Once that hits, it will get ugly, EXTREMELY QUICK.
Guys, I love Crypto, and I really want it to succeed, and i think it will, to a degree, and given more time.
But, open your eyes. Look at where we are. LTC was $3 a year ago, and everyone is freaking out if it goes below $100 now. Well guess what, it will. This bubble is done, and we have to finish the cycle. Then and only then, will the bulls return. Until then, This thing could go all the way down to sub $50. If it fully corrects the bubble, we are looking at sub $10, even sub $5. But I don't necessarily expect that, but the possibility is there.
This is not technical or sound advice, and just my overall opinion of the markets.
This is MY current decision.
Abandon ship. Now.
We are sitting here, 8 months later, sub 50.
I am not exactly accumulating yet, however, that time is nearing I believe.
Update here in a couple of days to a couple of weeks. I am waiting for a massive bounce with high volume to decide if the bottom is in.