One newsletter I follow has been suggesting for months that this downturn would probably form a W bottom. About 5pm EDT today, 3/29/18 when BTC traded below $7000 at $6960, BTC on the 24 hour volume was down 8.34%. ADA which on some days has sometimes been down almost twice as much as BTC has in recent days been off only slightly more than BTC or not at all more. At 5:30 pm today, ADA was only off 9.58% compared to BTC off 8.34%. Of 16 other coins I own they were off an average of 11.98% and another 14 coins which I don’t own but follow were off an average of 14.13%. ADA compared to all these others is showing strength and BTC is very close to its three month low. Was this the W bottom? Was this a selling climax? The beginning of an uptrend with a new update days away?
I’ll tell you in 6 months!
I think there could be a wide variety of scenarios at play so have a couple of game plans ready.