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! ;)
Nota
I forgot to add the % it dropped in 2011. It was around 94%.Sorry ;)
Nota
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 :)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.