For anyone who has studied market theory or even basic macro economics should know exactly what the market is doing right now! Its tired, as point out in my last post, the market is going through a fatigue. We just lost $500bil since the december highs.
We are not just going to recover that in a day, just cause someone tweets on the market/partnership/deal comes through, things wont pump like they did in Aug-December. Most people are already holding very heavy bags, people who bought BTC at 15k, as at the time did seem like a good deal to get in!
Its quite scary to hear these popular youtubers and "influencers" preach about the ALT run thats going to happen anytime now..Its not! Not until the market recovers, not until there is new money coming or big money coming in. Most people are watching and as Carter Thomas thrice said, "Not doing anything is also an active decision", there is just so much wisdom in that statement, one should not undermine it!
Not to get the above wrong that I want a bull run, a mad one! But the charts, markets aren't singing the same song.
Looking at the charts
Screen Shot 2018-03-27
We are in the crux of deciding whats gonna happen with BTC and the market as a whole, we need to see a reversal very very soon in the market, we are looking at major support at $7300-7500. We should not break this, now will be a good time to call in your whale friends and have them pick up some coins, don't have any? Oh jeez...tense times!
In all honesty I am not looking at any other charts other than BTC, when BTC does well Alts do ok, when BTC does poorly, Alts fall off a cliff, as simple as that! Alts isn't what you wanna be looking at.
Screen Shot 2018-03-27 at 21.09.15
Just for good old fanboy in me, LTC sits around 130 for critical support, falling below that...will be not so good! There is no denying it, not good! This chart almost exactly looks like BTC and there isn't much else to add about this.
Side note: Rest in peace Łitepay, there wasn't much backing from the start, but as said repeatedly by many of you, Łitecoin is much bigger than one company in the space, there are a 100 and one other companies trying to make LTC big out there. This only goes into the narrative about ICOs/Alts/Start-ups failing and the figure sits around 95% if not higher.
bitcoin does not stand still ..