Capitulation is coming, settle in for more bleeding + TA

akshshr (25)in #crypto • 7 years ago

Long time no see! What happening to the markets?
Everyone and your neighbours dog is trying to find the bottom, are we there yet? Institutional money coming in, legendary investors, funds, good news almost all over the place-ish, but the bulls haven't moved the price one bit, in fact it been a very slippery slope since the last time we hit 11k on BTC.

Based on the charts there is a rather clean indication that the bleeding isn't over. I believe we are soon to hit the real low lows before we do anything else, since my previous chart we have only been falling and setting lower highs, and will be setting lower lows..As painful as this might be, this is not a risk taking market anymore.
As yourself this, what are the bag of coins you are holding you have the most confidence in? Is it still Dogecoin cash? Or Verge?
Or it is actually chains that have gone through the thick and thin and are still standing today...

BTC MC

There is no denying that BTC isn't going to be seeing more than 50% market domination, BUT..and that sure as hell doesn't mean we will be seeing an ALT anything anytime soon..Just FYI, when I say Alt, I mean anything that below the top 15 or 20...Almost any investment below that would be as good as gambling it away.
Which bring us to the main topic, capitulation is about to hit...right now the market feels like a drag..all the dopamine that was rushing through our body is now drained out.

BTC 4h 9th April
On a 4 hours chart we are seeing massive sell side action, kissing the resistance between $6400-6600, I pray we dont break this, but if we do, all those people who said to themselves that now(then) they would never see a 5k BTC, all those wishes might just come true. Its a tough time, and I would want people to be mentally prepared for this.

BTC 1h 9th April
A zoomed in version of the chart above, a massive red brick on the 1 hour. It fairly clear, we will be seeing a long winter and anyone who says otherwise should be very careful in what they choose to listen and believe. (NOT Financial Advice)

Shall we look at ETH/? Fair warning, might cause pain..

ETH 1d 9th April
I think one could literally count the sell side days, that was a nonstop 12 days of selling..this type of price action is scarier that usual, the general fizzing out of the price rather than more impulsive graphs.
Isn't this a crazy cheap price? ETH for 400change? so where are all the buyers? Money is locked in, how many of you are holding heavy bags already?

As sad as the above might seem and as long as this wait for the price to come back alive might take...I am very bullish on the future of the top 10 in the market (no I am not bullish on Dogecoin cash) they will all find their purpose. Decentralisation and the need for it is just being understood, people aren't questioning "When blockchain" but "Why blockchain". The future is bright! Hodl on, hodl strong!