Very nice chart by Kimble charting
This is a GREAT chart , thanks to Kimble charting for the channel depiction on the Weekly.
It is pretty easy to see the support area I have been discussing from the daily chart. What is of course very worrisome is the huge potential drop to the bottom of the channel on the Weekly depiction.
Might be time to own more tether.
https://coinmarketcap.com/currencies/tether/
Hold on to your hats.
Be VERY patient and invest for the future, there is no reason to try to catch a falling knife.
Craig
You trade your cryptos for tether in order to buy more later?
Tether is a great place to sit out a drop as you can instantly jump back into the market when the time is right.
If you have the funds in a bank it takes days move it to an exchange where you can use the funds. USD in coinbase.com or something similar is OK, but then there is movement from there to where ever you want to trade. This incurs time and fees. Tether to anything (via ETH for example is very quick.)
I expect ALL coins to be affected (as we have seen) by the drop that will continue to accelerate. Quality coins will be hit as well, but they will be bounce back first. I want to be ready.
Makes sense, it will be much faster to buy when start jump again :)