It is no secret.... Without Worries maintains a negative outlook on underdeveloped legacy crypto projects. Legacy refers to projects that have been around since 2017 with little to no development since that time. And yet they all continue to attract a significant number of long ideas.
To name a few from 2017 price action to present day:
Dash $108 versus $23
EOS. $2.40 versus 70 cents
Ethereum Classic $22 vs $17
Arguably Ethereum $471 versus $1800
Litecoin. $86 versus $86
Monero. $163 versus $255
Litecoin is amongst those without development to speak of. Despite the historical significance as one of the original Bitcoin alternatives, the monthly chart reveals a troubling pattern.
The false breakout of 2025
=====================
The pink boxes highlight the consolidation periods prior to each bull market cycle. Points 1 and 2 identify the resistance tests. The 3rd test, as is often the case in Technical Analysis, prints the breakout as indicated by the red boxes. However in 2025 after the breakout price action was returned to the consolidation area. This is a strong bearish signal. An indication buyers had no strength for momentum, which was evident from the February monthly hanging man candle print.
Monthly bearish engulfing candles
==========================
The red arrows mark each bearish engulfing candle print that followed a rally in price action. A significant correction in price action, 80% corrections, in each insistence followed the print. Is this time different? I’m sure the bulls will say so.
Going forward
===========
The bullish outlook:
Price action must recover from the fake-out with a volume sized move above $160 to undo the bearish signal. This would void the idea of a strong correction.
The bearish outlook:
Price action returning to the consolidation area is incredibly weak.
A collapse in price action would begin with a monthly candle print under $60, the consolidation area. Trade is active on this condition.
The condition would develop the $20 forecast, however the bear flag forecasts a correction of 87% to the $10 area.
Ww
To name a few from 2017 price action to present day:
Dash $108 versus $23
EOS. $2.40 versus 70 cents
Ethereum Classic $22 vs $17
Arguably Ethereum $471 versus $1800
Litecoin. $86 versus $86
Monero. $163 versus $255
Litecoin is amongst those without development to speak of. Despite the historical significance as one of the original Bitcoin alternatives, the monthly chart reveals a troubling pattern.
The false breakout of 2025
=====================
The pink boxes highlight the consolidation periods prior to each bull market cycle. Points 1 and 2 identify the resistance tests. The 3rd test, as is often the case in Technical Analysis, prints the breakout as indicated by the red boxes. However in 2025 after the breakout price action was returned to the consolidation area. This is a strong bearish signal. An indication buyers had no strength for momentum, which was evident from the February monthly hanging man candle print.
Monthly bearish engulfing candles
==========================
The red arrows mark each bearish engulfing candle print that followed a rally in price action. A significant correction in price action, 80% corrections, in each insistence followed the print. Is this time different? I’m sure the bulls will say so.
Going forward
===========
The bullish outlook:
Price action must recover from the fake-out with a volume sized move above $160 to undo the bearish signal. This would void the idea of a strong correction.
The bearish outlook:
Price action returning to the consolidation area is incredibly weak.
A collapse in price action would begin with a monthly candle print under $60, the consolidation area. Trade is active on this condition.
The condition would develop the $20 forecast, however the bear flag forecasts a correction of 87% to the $10 area.
Ww
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.