The fundamental are good. Let's just talk about the chart:
We have three scenarios. I personally believe / hope the first one will be played out:
s1: we see a bull pennant forming (purple lines).
s2: if s1 fails, at $75 we could have a bullish gartley
s3: if s2 also fails, at $50 we'll have a 50% drop since the neckline of double top (not yet crossed / confirmed), which would be a 50% drop from the top.
wrt s3, some people say the drop is expected to be equal. but equal can be equal in price or in %. in their way of thinking, many coins should go negative. I disagree.
I really think the drop today is the result of unfounded FUD.
At the beginning of a market cycle, the news tend to remain negative. The price picks up slowly as demand builds up.
Man makes news.
We have three scenarios. I personally believe / hope the first one will be played out:
s1: we see a bull pennant forming (purple lines).
s2: if s1 fails, at $75 we could have a bullish gartley
s3: if s2 also fails, at $50 we'll have a 50% drop since the neckline of double top (not yet crossed / confirmed), which would be a 50% drop from the top.
wrt s3, some people say the drop is expected to be equal. but equal can be equal in price or in %. in their way of thinking, many coins should go negative. I disagree.
I really think the drop today is the result of unfounded FUD.
At the beginning of a market cycle, the news tend to remain negative. The price picks up slowly as demand builds up.
Man makes news.
Nota
Even NEO crashed so hard. Let's hope the bounce comes soon.
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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.