Lets see if 130k can hold support like it has done in the past. We are on a steep downtrend, ill admitt, could see a break in short timeframe and then a retrace and set a less steep downtrend; time will tell. I would honestly expect that lower belt to be support and the best place for a good entry. Let the market come to you. There are ALOT of emotions in metal, a lot of attachments. Greed was prevelant in the beggining but now fear is just starting to kick in...Right now Metal is battling the 4hr cloud and has found itself in a prior resistance/support belt. Altcoin liquidity is dried up in support of/so nobody dumps on the Bitcoin rally. You have a good amount of people who have bought higher underwater at the moment, as well as many significant holders seeing a nice -50% slash from the top. Superman isnt going to come save the day, we need to get rid of that impatience and fear if the market will move up and right now is just not the time. The hopes and dreams are what is holding this market up from lows of free to 0.18 cents like I said. This story isnt new or unique, its quite elementary.
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Metal broke the downtrend as predicted. Likely to get denied at the 0.5 fib and continue more downside.
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Nailed this perfectly.