So earlier this week I told my followers to at $2500 sell there BTC to fiat (USD, EUR etc) since then the trendline which is blue was broken and its been downhill from there. I clear break of the $2000 level and we going down to $1700 no questions asked! This could create more panic sells and push the price down even further.
Personally I think it's best to stay out of the markets until the beginning of August and then we will look at what happens with Segwit, it will set a very strong trend in either direction depending on the outcome.
whats your opinion about alt coins? will they continue to mirror BTC movements (cause today they seem to have stopped doing so)
i see several options to act:
-sell everything (to late ? )
-buy LTC (if something goes wrong LTC is the goto coin)
-stay in ALTs and do nothing
-continue trading, make use of the dips to accumulate more ALTs
thetazeta
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@valueerror, some Alt betas have begun decoupling in the last couple days.
Check out Siacoin, in the last 24 hrs it's made a steady moderate uptrend while BTC plummeted. Possibly weak holders have all been flushed out after a month of selloff and it's on its own independent track now. Sia's a bit different than most Alts as it has real functional value but I'm seeing possible similar signs in some other alts too.
Personally I'm waiting for BTC to bottom but I'll be watching alts throughout and if they all start/continue behaving like Sia I might buy in regardless of BTC.
nakov
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@thetazeta, very nice view on the alts market. I support your opinion.