Alt Coin Bottom Watch Dec 7 2018 Chart updates w/ thoughts and opinions
BTC
Im still watching and comparing BTCs price action with that of 2014 when BTC fell 85% and took about 410 days from top to bottom. As you can see that puts us at about a 2800$ BTC. Either way we are currently living below the mean.
Theta
This is a macro look at Theta. What I wanted to highlight was the tiny little 1-2-3 bottom formation that can be found off the lowest low. The high of this pump became support (yellow line) on which Its ridden ever since. The retest triggered an enormous flash dash pre pump move that rose almost 200%.
In the second (micro view) you can see since the pump its retraced almost all of its gains and is seeking support again. If it finds it above the yellow line and turns to the upside we might see more sustained movement, just need to remain skeptical about the fake out. The chart its self reminds me of XRP in its hay days from less than a penny on ward.
XEM
Xem Is looking nice as, it too, had a significant pump a good time after its 1-2-3 bottom. The post pump response on this one has been great as well! It keeps slowly rocking higher. Its also currently testing its most recent high.
Hello doge my olde frien
I like how me doge been gode boye! Much wow, Tom hank you bvery much. Doge is currently pushing above recent highs well above the yellow support from the 1-2-3.
WAX
Alright the next two charts ill sum up in one explanation as they both are rather similar at the present moment. Both WAX and BAT had nice moves up but recent BTC moves have put the damper on that. They are however showing they both might have good floors in at these new levels. They have resisted BTC driving down the market better than most alts and I think that speaks to the strength of them. Close watching so they dont fall through the floor like my previous alts I was tracking.
BAT
Well thats all I've got for you on this one!
Let me know what you guys think below
or if I muffed anything up!
-Dest
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interesting to note DOGE, and to some extent XEM are acting like stable coins - rising while BTC is falling, and falling while BTC is rising. Like they are more connected to FIAT than CRYPTO.
Good to reflect on the stages of a bubble or bull market turn bear - and consider just where we are within that cycle
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