4 Market Cap charts and SMA & VRVP- A Warning for Lower Cap ALTS
The Main Chart is the TOTAL Crypto Market Cap and it shows us how the Market is sitting on the Daily POC ( Red Dotted line ) off the VRVP and is gettign sandwiched between the 50 SMA ( RED) Above and the 100 ( BLUE ) Below. - All in all, After the weeks of Ranging, The PA is in Good shape but that VRVP doe sshow resistance over head and possible Lack of support below.
TOTAL2 Daily chart below
Again, PA is loosely sandwiched between the 50 and 100 SMA but the point to note here is how far below the POC ( point of control ) PA is. Signifies a weakness in ETH compared to BTC
TOTAL3 Dail;y chart below - TOTAL3 shows the total market capitalization of the top-125 cryptocurrencies, excluding BTC and ETH.
Again, PA finds itself in a position to get squeezed by the 50 and 100 SMA but one VERY noticeable difference is that PA is ABOVE the POC.
This shows us that the Bigger ALT coins could drop further but there is support below.
I would also interpret this to show that ETH and its ALTS are the weaker compared to other Chains.
OTHERS Daily chart below - #THE ONE TO SEE HERE - OTHERS shows the total market capitalization of the top-125 cryptocurrencies, excluding BTC and some other top cryptocurrencies.
The Thing to see here above all else is how the PA has already dropped BELOW the 100 SMA ( blue) - It has not done that on any other the other charts.
This shows us the bigger Loss is on the ALTS compared to BTC.
Again, you'll notice how the PA is below the POC.
The conclusion I draw from this is simply that BITCOIN is holding the market in higher Value than anything else. The ETH charts are weaker and below the POC ( point of control ) on the VRVP.
Definition. Visible Range Volume Profile (VRVP) indicator calculates the volume profile within the visible range of prices, making it an ideal tool for traders who want to analyze the most recent market trends
This simplified Point of Control (POC) indicator for TradingView is designed to identify and plot the price level where the highest volume of trading occurred over a specified period.
The Idea of ALT Season that so many have called is FLAWED>
We are no where near that yet.
TOTAL2 Daily chart below
TOTAL3 Dail;y chart below - TOTAL3 shows the total market capitalization of the top-125 cryptocurrencies, excluding BTC and ETH.
This shows us that the Bigger ALT coins could drop further but there is support below.
I would also interpret this to show that ETH and its ALTS are the weaker compared to other Chains.
OTHERS Daily chart below - #THE ONE TO SEE HERE - OTHERS shows the total market capitalization of the top-125 cryptocurrencies, excluding BTC and some other top cryptocurrencies.
This shows us the bigger Loss is on the ALTS compared to BTC.
Again, you'll notice how the PA is below the POC.
The conclusion I draw from this is simply that BITCOIN is holding the market in higher Value than anything else. The ETH charts are weaker and below the POC ( point of control ) on the VRVP.
Definition. Visible Range Volume Profile (VRVP) indicator calculates the volume profile within the visible range of prices, making it an ideal tool for traders who want to analyze the most recent market trends
This simplified Point of Control (POC) indicator for TradingView is designed to identify and plot the price level where the highest volume of trading occurred over a specified period.
The Idea of ALT Season that so many have called is FLAWED>
We are no where near that yet.