this is so silly. the indicators were all bullish. we had an ascending triangle, bouncing off of the wall at $7.20 for days. nothing happened due to low weekend volume, one guy got spooked and dumped coins down to sub $6.90, which started panic sells and more giant dumps. Sure, we needed a correction but we could have gotten over the resistance at $7.20 and sailed to the next level before this happened easily. Notice how the cheap coins were gobbled up instantly? We won't see prices <$6.00, we're on our way up, and since the correction happened early I wouldn't be surprised if we sail to $10 before another major correction.
I am a long term bull, but not a permabull. You saw what you wanted - the dailys were screaming overbought, the forums were full of irrational exuberance. Longer term nothing has changed but short term, these kind of rallies are surely unstable.
I sold a big chunk of my 'trading chips' at around 5. Gutted I missed the rally to 6 and then 7 so I made an emotional trade at $7 in a moment of weakness but fortunately got out before it went too sour. Who knows, I may still be wrong yet and we could hit $12 by the weekend!
My order book is loaded with bids right down to just over a dollar. I don't expect them all to be filled, but I do expect some of them to be. The only question is how many.
