In the middle of forming the perfect cup&handle came the news of Bittrex delisting. That was due to some compliance issues where the dev team decided to go for an airdrop, but unfortunately they have not notified Bittrex of the same. As a result there is a lot of FUD and panic, but also an amazing opportunity to fill your bags at an extra-low price. The overall value of the coin is still the same, the project is still going in same direction... It may be a day, a week or a month to get the actual price back on track, but when that happens it will continue to follow it's organic growth. I expect it to come back to similar levels as before the drop and start from scratch, or even continue towards the targets of previous C&H formation.
In the coming couple of days (until announced delisting on 9th
) i would expect one of the following:
1. Delisting postponed or canceled, price reaction in positive way and possible big bounce (short timeframe)
2. Price stagnation or minor drop until very close to delisting and big bounce for bag-filling at lowest price (short timeframe)
3. Price stagnation or minor drop through to delisting and big bounce as soon as listed again on major exchange (long timeframe)
I hope you will have the patience to pull through this and profit in the end. Good luck!