Folks, regarding the current price correction:
I saw this coming and held. Because I've traded in and out of DRK for the past 3 weeks and been stung every time I went short even though I'm using trading graphs. I've noticed that the whales like to pick their moment to get in and it's usually just as the 4hr MACD histogram is completing it's 2 day cycle back to the upside.
Then they pile in with massive buys and basically drive the order book up to kingdom come in order to throw any competitive bids out of the market.
If you check back my posts, I predicted the last rally exactly a week ago:
Expect a bit of a rally to start over the next 24-48 hours barring any negative news.
Order book asks starting to thin out. Bids thickening.
4hr MACD histogram has put in its first clear bar on the lee-side of the downwave with crossover projected in about 12-20 hours. 1 hour already flipped slightly wide after glancing off the signal line following Evan's little market 'fright' yesterday.
Analysis is further endorsed by the fact that last night's 2000 sat order book spread has been closed to 1000 by the bid side.
Seats please.
... and now I'm predicting a further consolidation of this correction based on the 4hr chart which looks like it might take us back even to 7 or 8.
BUT:
[1] - the correction is on very low volume. The money coming out of the market is a pittance compared to what went in
[2] - if you're not out already then it's too late because the liquidity isn't there to get safely back in as we're already a fifth of the way into the correction cycle
[3] - the fundamentals are helping to mitigate the acuteness of the correction. i.e. RC2 nodes coming out of beta and RC3 roadmap on the cards etc
So don't get surprised if the price goes down further. It IS going to because that's how markets work. I was ready take some profits at 14 and after pouring over the charts for hours decided not to because of previous experiences and seeing that the correction wasn't turning into a dump. With "dumps" you've also got to check volume. The price can be going down on low volume or it can be going down on high volume. This one's going down on low volume and that means that sharks are hovering waiting to pick their moment.
If you are investor, this is the time to trade on fundamentals, not price. If you don't think the coin has a future, get out now and mitigate losses. If you do think it does, stay in.
