Following the latest bearish divergence on Bitcoin and the other alternatives and even a significant dip in a few like BitConnect, we are actually witnessing the entire sentiment of the market changing. Look around you, anyone talking about 'Bitcoin' going up? Big movements? No? I don't know. Personally there hasn't been a lot of talks about it locally in the society so it's a pretty big change from last Christmas. Mummies and Daddies are the key consideration of Crypto, when they are in, danger is in. When they are out, danger is out, get ready to scoop cheap goods. In fact that has always been the way trading is. You make sure the general public isn't in it and you scoop as much as you can before they come in. They are the ones who'll buy your marked up value, you are the one who leaves first with profits, unless you're there to wait for them to give up. =)
Technical analysis can be really helpful anytime but it really depends on how the user fully makes use of it. It is more or less a tool and will never be fully harnessed unless coupled with another powerful tool, like fundamentals. With the inclusion of the community around you taken into factor in your chart analysis, you'll be able to see a slight similarity in the movements. That is the beauty of trading, not just crypto. Crypto is just a place for us to experience that in this era.
Media attention:
Ripple makes a 'Splash' in Nov 2017
Ripple up more than 90% in the last 24 hours
Uncertainty:
Demise:
An example is Ripple, initially parabolically bullish at the end of last year and has gained huge media footprint, has also been the reason of its current predicament. Things that generally go out of its usual momentum will sway violently to disaster. This is something traders, speculators and investors should never overlook into and is something that may or may not result in massive profit loss changes. Never follow the public media, never do that. Use them to your advantage, make them the signal to your exit because the people coming in are the people dying to come in.
I really miss how crypto used to be, technicals are clear cut, repeating patterns are there, volume is stable in incrementing and there has never been a happier moment than that.
No matter what, please trade responsibly. Never take what you don't have and never use what you don't have to trade. Follow your analysis, read the society and don't read with the society. The only reason why the biggies always win is because no one learns this lesson.
Looking forward into the current state of Bitcoin and its variations, we're seeing a huge resting period for crypto so stay and hold your way to recovery. It may take awhile because it has been a year since we've experienced a 'dramatic' dump. So-called dump that is. The general public will tell you when it stops. Fear, Uncertainty and Doubt. Once the society is fearful of crypto, its time to replenish your stockpile and head back into the stable gains in growth.