My target of 2600/2800 remains intact
Updated
I still think it will go that low, even if we see any substantial bounce during the dump.
Here is why:
- Red trendlines are repeating and they all get broken at the end in a last massive sell off.
- Even weekly MACD seems to show oversold condition and the lines have crossed, it can just go up a bit and go down again. It doesn’t show a lot of strength.
- Focus on the bigger picture. Monthly MACD is free falling and the last time it happened (2014), the situation was similar.
- People without any knowledge of supports, resistances, Fibonacci, Gann, etc., are still scared. My question is, would you buy a coin that every time it pumps, it draws a lower high? If I didn’t know about trading analysis, I wouldn’t get in, to be honest.
This is just an idea and I can’t be wrong, of course. I’m not responsible of your actions, so trade or invest carefully.
Have a good day! ;)
Here is why:
- Red trendlines are repeating and they all get broken at the end in a last massive sell off.
- Even weekly MACD seems to show oversold condition and the lines have crossed, it can just go up a bit and go down again. It doesn’t show a lot of strength.
- Focus on the bigger picture. Monthly MACD is free falling and the last time it happened (2014), the situation was similar.
- People without any knowledge of supports, resistances, Fibonacci, Gann, etc., are still scared. My question is, would you buy a coin that every time it pumps, it draws a lower high? If I didn’t know about trading analysis, I wouldn’t get in, to be honest.
This is just an idea and I can’t be wrong, of course. I’m not responsible of your actions, so trade or invest carefully.
Have a good day! ;)
Note
I forgot to add the % it dropped in 2011. It was around 94%.Sorry ;)
Note
After reading it again, I saw some mistakes in my writing. I’m sorry. English is not my mother tongue and I didn’t realise about those details.Point 2, I meant “ALTHOUGH weekly MACD seems to show...” and the last sentence “This is just an idea and I CAN be wrong...”.
I’m so sorry, hope you knew what I meant.
Have a good day :)
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