Retracement on the bitcoin! Alt-coins will follow. 16.2-16.6k

BITFINEX:BTCUSD   Bitcoin / Dolar
Chart speaks for itself.
Komen: Some explenation. I sold all my alt-coins, I wait for the bitcoin to stabalize. That's my personal strategy, because I always want to minimize my risk. There is a huge change I can buy my alt-coins a lot lower if the bitcoin drops. Otherwise I just pay a little bit more and take my lost.

But I always keep in mind in my opinion the whole cryptocurrancy world is one big bubble. That's why I always sell when bitcoin drops below mayor support level. Remember it's better to save ur money, their will be so much opportunities to grow ur stack it's not worth the risk. I just want to take as much money possible trading the waves.
Komen: We had a perfect retest of the cannel. Now we will drop lower.
Komen: Another thing you guys should think about. I will try to explain it with an example.

There is a big risk and the altcoin bitcoin will drop in price.

As I see it there just two options:
1. Just hold ur coins and wait it out.
2. Sell ur coins and try to buy back lower.

Now let's take a look what's the best option with a simple example. We have the crypto prediction coin, I call it CPC, it's traded for 110 usd. All markets did go almost straight up like the past weeks, but bitcoin did go below mayor support and we can sell the CPC for still 100 dollar.

As I see it with a good drop, we can easily drop 30% or more. So we could buy at a price of 77usd, that means for our 100 dollar we buy something about 1.3 CPC.

In the bad scenario we will sell our CPC for 100 dollar, than bitcoin regains strength and the worst scenario we would have to buy the CPC back at his original traded price of 110 usd, that means we can buy something about 0.91 CPC.
17255 was the low, do u expect that it will still test the supply zone of 16k to 16.5k
Do you think the up coming segwit2x will alter this retracement ?
Agreed, BTC will hit Alt euphoria. The risk though is BTC dips are bought up so fast so it also may be risky to jump in and out. I plan to seel alt's also and buy the dip on BTC. At least thats the plan.
Thanks a lot, CryptoPredictions!!! Following...
i dont your theory is applicable to everybody, for instance i bought LTC whn it was $88 now it is around $350,so what makes me sell it now whatever it is?
Since it's going to drop to 16,500, we can still short it right?
@jesusdeleon, I won't recommend you. Shorting is in my opinion not worth risk now, only when you just open when it broke down support.
jesusdeleon CryptoPredictions
Right, thanks! :)
the bubble just started, this is going to be the best bubble ever!
Do you only sell Alt coins not BTC when there is a drop in BTC?
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