In essence, this chart applies to several Alts i.e. LTC. Only my call for ETP seems to be hanging in there - just - and probably would have made a much better move with it's timely new listing on the european exchange, if it were not for these testing times.
So, as money drains from most major alts it's a rough time for holders ... and possibly a great opportunity is approaching for buyers.
What I see here is a desending / falling wedge that will soon hit fresh supply (light blue lines). This pattern is a reversal pattern. No doubt the first of these supply levels will cause a pullback probably smaller than the previous retracements. But in 2 days or more - depending on candle formation - we may have the signal for a price switch. We can only wait and see ...
... and the way things are going, I would not be surprised if there is a dramtic price spike downwards to hit the sub 4 level structure and supply. So long as the OMG team have survived this drain - what a bargain buy!
For those holding - hang in there, what else can you do? Eventually we will climb back up to the MIDAS support channel. It might even be a quick rush up with fresh btc profits! Who can tell?