Even with the recent “pop” in BTC prices, I wanted to share a few bearish charts. I’ve been yammering on about cryptos more than is necessary, I suspect (I’ve never owned a single one), but as a chartist I’ve been captivated at all the right triangles showing up, as with Bitcoin:
In some cases, the triangle isn’t quite broken yet, such as with Ethereum (even though it’s lost the vast majority of its peak value):
And in other cases, the triangle failure is well on its way, such as the 82% Litecoin loss:
I think the stuff that has just barely breached support such as Bitcoin (above) or Ripple (below) are going to follow Litecoin’s steady path downward.
Of course, with the 2,000 cryptos that were created, many of them have already lost virtually all of their value, such as this poor sumbitch, which is down 95%:
