TL;DR

• The market has become a tad over extended and begun to move down in what looks to be an “A/B/C pattern,” before (hopefully) reloading and pushing up beyond most recent market-highs.

Full Story

Each day, we consume what mental health professionals have referred to as:

“An obscene and borderline dangerous amount of information.”

All so we can take what we’ve learned, boil it down to an easy-to-consume informational-syrup, and deliver it to you.

(That’s our excuse at least — honestly, we’d probably be doing it either way).

Here’s what we’ve learned over the past 24hrs:

• The market has become a tad over extended, meaning prices have been due for a pull back, but have instead moved sideways

• That sideways price action is finally breaking, and prices have begun to move down

• But this is a healthy thing — as we said, the crypto market was due for a correction

• The theory is, we’re now experiencing a move down (Wave A), which will be followed by a bounce back (Wave B), before we find a new short term low (Wave C)

The ideal final scenario would play out something like this:

1. Prices cool down and complete the correction, at which point we receive a fresh/continued run of positive crypto news…

2. Making the post-correction prices feel like a steal, inspiring new/increased investment…

3. Pushing prices up beyond our most recent highs as a result.

Fingers, toes, eyes: crossed!