Normally I would have postponed my last post and published it today:
Another Uber Bullish Dip
Instead I published it immediately.
Why?
Because I actually thought it might no longer apply today.
Which it doesn't.
Oopsie!
It's really amazing how inaccurate our emotional predictions get in the heat of the moment. Litecoin looked like it had amazing support, and that support was broken the instant I pointed it out. What happened?
Bitcoin
Unfortunately/Fortunately for Litecoin it remains tethered to granddaddy Bitcoin. Bitcoin still had a little more room to dip while still maintaining that solid support, and dip it did. This broke Litecoin underneath the apparent support down to a slightly lower level.
I'm not really worried about further losses. Bitcoin still looks surprisingly predictable with the support raising up around $100 every week or two.
Still bullish
Yeah, we can't really rely on Litecoin analysis because Bitcoin affects it so much at the moment. Tough luck. Regardless, I think once we get a full month away from this Bakkt pump/dump debacle (Oct 25) we'll be in the clear and ready for positive action come November.
I'd say Steem is looking pretty bullish as well. The Bitcoin dump hit us and then the price spiked right back up. Seeing that kind of volatility at these low levels gives me a little peace. Combine that action with 66 cent SBD and one might conclude that the alt market is extremely oversold; especially projects farther down the market cap rankings.
Of course I've somewhat given up on the lower cap coins until Bitcoin reaches all time highs again, but maybe that's why it will turn out the exact opposite. I wonder how much better off I'd be if I did all my trades in reverse over the last 2 years :D