Well that was a big fucking breakout downward... BTC-USD and it's effect on the alts.

Someone just sold a mass of cash at the top causing a crash...

Unfortunately for me, I had just taken a nap, and woke up in a panic, thinking this was the beginning of the correction and that it was about to crash more.

Took me a few to calm my ass down looking at the charts.

From left to right, we can see the usual expansion after a shot up to 49k, then it entering a descending triangle, before breaking out upwards, expanding, and then entering a descending triangle and crashing due to some serious volume at the bottom.

Now, as I previously said, I'm out of BTC until it corrects a bit more. Problem is, this bitch crashed multiple other markets and erased my gains for the last few days. That didn't seem normal and was part of the cause of my panic.

Managed to allow me to pick up another 200 hive tho. Well, 197. That I was happy about. I was afraid it was gonna just go up and up from here.

Now the Hive chart REALLY doesn't make sense. Volume is way down during the crash on Bittrex, so no one was selling there.

Can't even say anything about that movement, because I don't think that matches the fundamentals.

Now do I get to go on all the news shows and bitch about how I lost money, or is that only for the hedge fund oligarchs?

Trade responsibly. Don't panic. Buy the dips. Not trading advice. Educate yourself.

Also, don't try to catch the falling knife. Instead, realize there is no knife, and it is you who you are catching.

Edit: You can see here that LTC dipped down more than a bit during the BTC stumble.

It had just completed a head and shoulders pattern though.

Barely that is.

It didn't even really get up close on the second shoulder. It just started to complete it and crashed.

Such a pattern means you definitely can't walk away for a few hours if a crypto is up and has made a second hump. Almost better if the initial high is the highest one. But then it's probably going into a descending triangle. Can't win.

That massive dip did clear out a lot of my buy orders though, and I've now made back all my profit from the loss of the dip.

With the gamble that that pattern on the end of the dip is an upside down flag or Ascending Flag, I decided to take the profit return and buy lower.

LTC actually has a similar spike in volume as BTC, so perhaps both of these moving together was what moved the alts.

We can see a similar flagging downward in USD-ADA, as well as a spike in the volume on the sell.

I'm long on ADA, so I'm only selling a bit to buy lower. I actually sold some other coins to fill in more lower buys on ADA.

I need to research more smaller coins though.

I don't really expect ADA to go much lower than that massive dip in price, if any lower at all. I have buy ins placed at different points just in case tho.

Do not take this as trading advice! Be responsible for your own money and educate yourself!

Feel free to talk to me about different coins though!

Edit: I'm an idiot. That's probably not a flag or ascending triangle. I took the gamble it was gonna go down further way too soon probably. I dunno if it was tired brain or what. BTC could easily go up from where it is. So could ADA and LTC. They already sold out to pretty low and actually should go up a bit before retracing.