RE: STEEM Update: What's changed?
@haejin - I have been away a couple days, but have been studying the emerging markets in the east. I posted this a month or so ago, and had since changed my internal feeling about the BTC fall. I'm heading back the other direction. The more I study the eastern coins and markets, the more I'm starting to think BTC will of course correct, but I get the sense now that more people have faith in alt coins than ever before. I see alot of BTC moving into alt markets.
Of course no one knows FOR SURE anything, but I'm beginning to retract the idea that everyone will bail on all coins when bitcoin corrects. bitcoindark is skyrocketing, WTP is skyrocketing, it's possible that this trend continues as btc corrects, and we start to see new patterns emerging from these alt coins and dark coins. I have repeatedly spotted a 5 wave upswing, switching into a tightly woven consolidation triangle, only to restart the 5 wave up again.
I also believe Monday/Tuesday will be very telling of people's sentiment. We are in the middle of a holiday weekend in US, volumes are low, but Monday and Tuesday will reveal much about where we are headed.
Your thought process is a fundamental base thought process. There is nothing wrong with it. However, TA states that a reason or an event shall arrive to justify the forecast and not reverse. Therefore, TA begets the fundamentals and not reverse.