@WizardOfRealms, Cheers I graphed close to that at 26 cents , But i cannot figure out why it will drop that low.
40 cents I can understand if BTC hits 5k , but the 26 cents I think its a flash crash and will be a quick bounce back up.
A lot of the coins are showing these very low values also which is odd .
WizardOfRealms
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@mycotoxin, yes, it will be a flash crash... look at 3 day chart (while a laggard, it is still a live chart) and select Bollinger bands and ichimoku clouds.
I have seen it touch the bottom cloud before on a much lower scale. It has to touch .226 if not go through it quickly and bounce back up. And, there is no cloud obstruction before it does it.
Could be tonight, could be over the next 3 days... could be by Feb 12th on a slow drip... but, I know it must happen. Sux but it is what it is.
The lower Bollinger band is currently @ NEGATIVE -.025
WizardOfRealms
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@mycotoxin, I suspect BTC will hit around $4500.00 as it did in Aug 25th of last year... ripple was .195 at that time.
mycotoxin
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@WizardOfRealms, Now we see how XRP gets to 23 cents . As if BTC drops to 2400 this is almost 1/3 of where we are from here .
Divide the current value of XRP by 1/3 and we get the lowest value around 20 something cents.
with 4 more weeks of the correction left this is probably the low point.
mycotoxin
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@mycotoxin, The interesting thing is XRP still shows as hitting $8 and above in 2018 so the tokens will be coming back and moving a lot higher . Im assumig we will see China rejoin the Crypto market in the next few weeks or months and this will kick off the next bull run -
Welcome to the crazy crypto world if this is your first correction . This is normal crypto behavior and everything will go back up in a few weeks.
WizardOfRealms
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@mycotoxin, China is simply banning its population from joining other exchanges (around the world) from what I read... and keeping the trading within its' borders. I believe China has the largest mining operation for BITCOIN if I read correctly. I believe that "CREDIT CARD BANNING" and "ADVERTISEMENT BANNING" have a lot to do with it in CHINA... However, the price drop is specifically "The natural order of things." I suspect while TA is a good thing and I appreciate you and all others... I HAVE TO CONSTANTLY REMIND MYSELF - CRYPTOS while very similar in nature to stocks ARE HIGHLY VOLATILE and can change therefore DRAMATICALLY against TA... I dont' know why...
Here's my latest POST...
Good luck to you and everyone else and "may the FORTUNES be with you."