The over night action has broken the first support line, but there is another. In Blue. There has been a consolidation, I personally prepared myself for a drop and i could be wrong. i ALWAYS HOLD the coins i believe in, but after the last drop my faith in some have weakened. No solid investment in a coin is a red flag.
Reading, Internet of money and starting to understand why Bitcoin is KING.
It is a separate issue but worth mentioning, almost all alts are just an idea, some have excellent teams but none the less they are years from a product. What does this mean? Its means that when Bitcoin falls people have not got any faith in them and convert there money to BTC or USDT.
What do i think will happen now, well it looks like another go at the wall.
Today, one of two things will happen, the BULLS will charge the wall or the BEARS will begin to sell. Pro tip, look at the markets on 2hour candles gives a better reflection of what the market is doing.
Three red candles the bears are in control, two days of BEARS will get through the support line in blue, if this happens then there will be panick.
On the flip side if there is a charge at the wall and it is breached then we could be in for the start of a BULL RUN.
Two potential routes below. BULLS in GREEN. BEARS in RED. If the BEARS win there will be a drop.
Awareness is KEY. When others are panick selling, you will be buying.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Good analysis