2. Blue channel can't hold it, expect hovering around upper line of red channel
3. Movement in yellow channel related to other factors, BTC price drop/raise, OMG news release etc...
Besides, I know XRP will PUMP again in the not-too-distant future. I will be using my profits from XRP to put even more money into the Oh My God coin.
I don't care about Bitcoin going to new ATH... because I know I can buy cheap coins and they will PUMP again because they retraced. PUMP!! $$$
Vertcoin went from ~$0.70 to ~$4.80 in roughly the same time period, a 685% increase but apparently thats just a 'meme coin'. Ive done well with a few coins such as VTC,okcash and GRS, im not sure why people refer to these as 'shit coins' and 'meme coins', particularly as their percentage gains have far exceeded BTC in recent weeks. I do hold a small amount of ETH, but presently i hold no LTC, OMG or NEO but if i do see a strong buy signal ill buy in.
If there are indications that XRP will begin to move north ill not hesitate to grab some, this is why i like to keep cash on the sidelines waiting on buy opportunities. As i previously alluded im pretty disappointed in LTC, OMG, NEO and ETH, of all the coins i really thought they would rocket after BTG softfork, but as the total market capital has since reached ~$200 billion i believe these coins will eventually take off shortly after segx2.
Well, this is what I think: It can go BOTH ways. BTC can PUMP while the altcoins PUMP. If I were a Whale, I would start turning my USD into these cheap alts before the fork.
So, Bitcoin gains is no longer worth the risk to trade into to try to get cheaper alts.
Like you said, ALWAYS keep cash on hand. $$$
Whales have PLENTY of cash and I think a lot of people selling their alts now are going to regret it because they will buy back more expensive; therefore losing their alts.
Of course, if you are skilled and know what you are doing... by all means sell your alt if you think you can buy it back cheaper. But I'm not that skilled and I'm not waiting for a bottom as many coins have retraced 50-90%!
I used to use ShapeShift... then I realize what they were charging me... as much as 5% on some trades (e.g. LTC to DCR was nearly 5% fee in the summer!!) Plus, my coins kept getting stuck for days in their system.
I lost $2k of XRP in June from ShapeShift... My window was not maximized and I only copied part of the Destination Tag. They said my 6,000 XRP went to someone else and they couldn't retrieve it.
So... I stay away from instant exchanges.
Also: at least you can sue American companies. ShapeShift is not American. I would never use a China exchange.