JayJuanGee
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How much alt coin diversification is needed? 0%?


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October 04, 2018, 04:20:29 AM

For what it is worth, here is the current chart I use for trading.

Thanks.

IMHO the action becomes weaker and weaker, clearly visible on the 4hr chart, and with momentum to the downside increasing. Not necessarily a shit show yet but the bulls seem to momentarily loose the bigger momentum.

If the leg up from $6,424 does not surpass previous short term high (about $6,550), there is more pain to come.

Your conclusion:   Bulls are losing the BTC price battle because price has been failing to rise.   OMG.



Do you recall 2015?  Largely, BTC price failed to rise for more than 9 months, but that phenomenon did not mean that bulls were losing that BTC price battle, but instead that the bottom was in and bears could not push the price any lower, which ONLY left UPPITY as the direction of least resistance.  And we saw the evidence in retrospect, correct?  And we did not really realize that we were out of such situation until Mid-2016, and some folks were not really convinced until late 2016... sucks to have been those kinds of doubting thomases, just like it is going to suck to be waiting and waiting and waiting currently for a down that ends up not happening.   Tongue