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Old 08-14-2018, 01:53 PM   #251
val47's Avatar
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Originally Posted by ninjacookies View Post
Ironically my biggest money maker last night. That rising wedge drop was tremendous.

I'll try and keep this as concise as possible.

That's basically a pricing chart that extends back to March last year (before ETH started it's meteoric rise)

That top red line indicates the strongest support line during this 1 and a half year period . That support line was breached a little over a day ago.

The next major support line is .028 btc, basically nearly half the value of where it's at now. There is very little propping it up between here and then. Same exact thing happened with LTC several weeks ago, which accelerated the price drop like a cannon.

That is not saying there won't or can't be mini pumps along the way. Nothing is ever a straight line down. But classical charting says this is going down to mid to 180 dollar range, and may not stop there.

I would not touch ETH with a 10 foot pole. There are big concerns regarding the dev, app developers are dumping, and the once cutting edge tech is becoming dated and challenged by other up and comers.

About the only top 10 coin right now that has an even remotely decent chart is stellar. And even then, you're going to keep losing USD if BTC keeps dropping because the 2 are tied strongly together.

The swamp is draining and people are dumping hoards of coins right now. Volume and market cap are bleeding profusely.

Again, I don't have a crystal ball and nobody else does, but I'd much rather base my decisions on probability than emotions.

And I see absolutely no reason for BTC and the rest of the market to start pumping anytime soon until the ETF decision next month. And if that gets postponed again or gets rejected...then God Bless.

BTC has to eclipse $6800 to have any tiny microscopic chance of showing anything of note to the upside.

I don't get whats happening to NEO, i'm hoarding just in case
So say we all
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Old Today, 05:25 PM   #252
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Crypto has been in a death spiral for months. I don't think it's going away though. There were and still are a lot of scams out there. There are also some legit coins with value. IMO crypto really needs regulation to weed out the scammers and bring a comfort level to consumers and traders. With regulation i think we would see some stability.

I don't think it will ever go away though because there are some actual real world uses for block chain. I know the stories and the history about BTC and how it was supposed to have died 100+ times and always comes back stronger. There's actual historical proof of this i've seen it. It doesn't mean it will absolutely happen, but history usually is a good indicator.
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