I'm looking for a continued bounce up to 16k give or take $500 and then a roll over to 12k. Some consolidation just above or below the neckline. Then a break of the neckline and the recent lows been taken out.
If this occurs then once again the whole sector will get dragged down again with Bitcoin . But during this next break down I see fundamentally strong coins such as BCH, Dash and Monero halting their decline midway and turning around a moving up.
I think the time of Bitcoin Legacy as the crown prince of Crypto is coming to an end and the movement of money from Bitcoin into alts will continue.
A coincidence that carnage could come on xmas day ? I don't think so. Crypto = a new competitor to the power of money. Power of money = Nefarious Banking and Government interests. Nefarious banking and government interests = big money with the ability to work as a group. Xmas day crypto slaughter = the name of crypto tarnished as a fraud and a pump and dump. However I do believe fundamentally strong coins will still recover and become very bullish.
This is all speculation of course but I just get the feeling that the next 48 hrs is going to get nasty. I have sold all my positions after making last nights post. It must have galvanised me and I will be looking to rebuy those positions if things get extremely nasty downside over this xmas period.
As opposed to crypto family members informing other family members of this wonderful new sector to invest in. = slower crypto adoption uptake in the long term and big profits for those who have pumped via tether and are now dumping