Technical analysis and comparison to the bitcoin market since 2012, there's loss to above 80% and we haven't reached that yet.
We are having a downward trend with patterns that repeat and repeat, we're in the fourth iteration of this and we recently touched 5800 at th beginning of a new iteration while each of the iterations ended up about 2500-3000 lower than the other- which would comfortably bring us close to 4000 or less. This is a definite and obvious trend that nobody half serious could have overlooked.
The only thing that could reverse the rend would be a sudden rise in investor morale or the entry of institutions but institutions are divided, some keep spreading FUD while others are taking on a cautiously positive view. Investor morale is of course dependent on these things, there's a little news window on the lower right sight of all free tradingview charts... lately, news are getting better, volume gets better - but still manipulation is rife and the powers that be don't want a rise when they have the chance to get in at 4k or even less - why would they want to do that ? Why would I ?
Why would anybody but a hodler, or folks who create posts on steemit, as positive posts simply pay better. cryptopassion is one I respect, he always presents a very neutral no-nonsense outlook, which most do not.
If this started to shoot up instead, I would be very satisfied and ride it of course but there is no reason why it should and about 75% against it, so I'm very cautious - and guess what, 90% of traders think exactly like that. Which is what makes it really relevant and rather predictable.
So if the tooth fairy and fifty whales don't suddenly decide to go all in now... but maybe they do.
Watch the parking meters...
Technical analysis and comparison to the bitcoin market since 2012, there's loss to above 80% and we haven't reached that yet.
We are having a downward trend with patterns that repeat and repeat, we're in the fourth iteration of this and we recently touched 5800 at th beginning of a new iteration while each of the iterations ended up about 2500-3000 lower than the other- which would comfortably bring us close to 4000 or less. This is a definite and obvious trend that nobody half serious could have overlooked.
The only thing that could reverse the rend would be a sudden rise in investor morale or the entry of institutions but institutions are divided, some keep spreading FUD while others are taking on a cautiously positive view. Investor morale is of course dependent on these things, there's a little news window on the lower right sight of all free tradingview charts... lately, news are getting better, volume gets better - but still manipulation is rife and the powers that be don't want a rise when they have the chance to get in at 4k or even less - why would they want to do that ? Why would I ?
Why would anybody but a hodler, or folks who create posts on steemit, as positive posts simply pay better. cryptopassion is one I respect, he always presents a very neutral no-nonsense outlook, which most do not.
If this started to shoot up instead, I would be very satisfied and ride it of course but there is no reason why it should and about 75% against it, so I'm very cautious - and guess what, 90% of traders think exactly like that. Which is what makes it really relevant and rather predictable.
So if the tooth fairy and fifty whales don't suddenly decide to go all in now... but maybe they do.
Watch the parking meters...