Daily Discussion, May 16, 2018

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10 comments

  1. The recent wedge has broken to the downside with high volume on the drops. Current channel sloping gently upwards looks like a bear flag. I would side much more with placing a short than a long at this stage with next support at 7,900.

  2. kingjones502

    |Author

    Be patient. All in due time. The tech is there. The companies and partnerships are coming in. Don’t expect to get rich like people who got in 8 years ago in just a few months. It will take time but it’s a given that Blockchain and DLT are here to stay and progressing at a very rapid rate. Most of us are putting in money and just waiting to get rich. Can’t be mad that it’s taking a little too long lol. I actually feel like this is just a period of big money taking time and strategizing how they will use the crypto space. Wall street guys and large corporations don’t just their money around. They are planning and strategizing. Too many big names coming in for crypto to fail. Not sure which coins will be the winners in the long run but we are past the days of 100 percent faith in the dollar and big banks. Strong hands will look back and be grateful they held on. And what has been happening lately is much more realistic and sustainable than December 2017. I want my gains to stay not come and go. So hopefully this is just big money waiting to pick where they want to invest and making smart decisions. I could do without the fomo pump and dumps anyway. I’ll bet the gains come after consensus when everyone has heard most of the different pitches and find good entry points for coins they like.

  3. Camsy34

    |Author

    I know the market often does it’s thing for no reason but I was wondering if there’s some news or fud that is causing the recent downward trend?

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