I like patterns. It makes these swings like this easy to digest. Right now....crypto is being crypto. Without getting to caught up in the if ands or buts of fundamental technicalities, this is what I have in mind when I think about this market:
In 2018, BTC lost 84% of its value from the the ATH to the low. That should give us and idea of where this newer large market cap coin can move to. Generally speaking, with this little chart pattern pulled from the BTC weekly in 2018 laid over the current ADA weekly chart...IF this type of pattern holds true we can anticipate a drop to about $.50. Totally not out of the realm of possibilities.
Should we perhaps consider the speed get's down there? BTC hung on for awhile (half a year?) at the "current" retrace percentage then took one last dump.
I do really like this project. Still...crypto does what crypto does, at least this market has shown in fact it has NOT changed in terms of volatility ... a lot of us are hoping for the day when fundamentals trump speculative swings.
IMO, utility is catching up. Clearly, hasn't made a huge difference in volatility thus far...lets see how far down she goes!
Keep in mind I have no idea what I'm talking about. Things will probably drag on for a bit. Maybe it will take a HUGE dumper. I doubt it's going sub .30 but I'm just guessing. All the moonboi chart artists are gone now right? Nice and quiet :)
In 2018, BTC lost 84% of its value from the the ATH to the low. That should give us and idea of where this newer large market cap coin can move to. Generally speaking, with this little chart pattern pulled from the BTC weekly in 2018 laid over the current ADA weekly chart...IF this type of pattern holds true we can anticipate a drop to about $.50. Totally not out of the realm of possibilities.
Should we perhaps consider the speed get's down there? BTC hung on for awhile (half a year?) at the "current" retrace percentage then took one last dump.
I do really like this project. Still...crypto does what crypto does, at least this market has shown in fact it has NOT changed in terms of volatility ... a lot of us are hoping for the day when fundamentals trump speculative swings.
IMO, utility is catching up. Clearly, hasn't made a huge difference in volatility thus far...lets see how far down she goes!
Keep in mind I have no idea what I'm talking about. Things will probably drag on for a bit. Maybe it will take a HUGE dumper. I doubt it's going sub .30 but I'm just guessing. All the moonboi chart artists are gone now right? Nice and quiet :)
Idee correlate
BTC Retrace
cryptonomo
about BTCUSD