Yup. Where are the chartists who saw that coming? Which chart explained any of the recent dump? NONE. That's why TA etc are just dumb tools to dupe newbies (regardless of legitimacy of a coin). Overall this is coin has more slimeballs than even DASH and ETH combined. Normally I use crude language to go with this but it serves no purpose.
Just don't introduce anyone to XMR. BTC is the best one can do and that's what should be supported. Otherwise it's just dump a coin, come to this thread with a TA line to mock everyone, post negative sentiments when you want to buy, positive when you are ready to dump. Rinse, laugh and repeat.
Don't forget to post at what price you want to get back in. What price you want to sell right now. Everything out in the open, to steal from the guy posting before you in this very thread. Works everytime.
This movement was quite predictable, actually, if you looked at prior price action and took the warning signs to heart. I suspect many people saw it coming but didn't want to shout it from the rooftops because then they would have been labeled as FUD'sters and it would have hastened its arrival. I, and a couple of friends, saw it before it happened a few days ago and agreed not to take any margin long positions anytime soon lest we get #rekt.
In fact, I've posted as least one silly graphic in this very thread which perfectly predicted that drop.
Bottom line: Even though I am a permabull, I know nothing moves up in a straight line. Corrections, sometimes even stomach churning ones are necessary at times. That's why it's important not to margin long (unless you are willing to lose big) and to simply acquire spot XMR and then never let it go.
In the long term I believe Monero is going extraordinarily higher, but this won't be the last drop of terror along the ride.
It seems 27ksat has to be retested and is not that probable that will hold. Betting at 23-25ksat as floor
Dotto has consistently been one of the smartest posters in this thread. Everyone need to take a look at Ethereum's price action during its first big correction, on the way towards its ascent.
Right now we are seeing fear. Soon comes capitulation as margin longs can no longer take the pain and get liquidated, and people holding even spot XMR throw in the towel. I don't need to tell you I'm a permabull, and I don't need to tell you what a permabull feels during these moments of mass terror....
Fine, I'll tell you anyway:
greed
