Total market of crypto looking ready for a higher high.
Uptrending markets have to retrace. And these retracements are fairly short, but will give you an incredible opportunity to buy the dip.
The total market capitalization chart is a chart I’m relying on a lot as it gives a pretty much clear view on the market.
The $166 billion area flipped as support, which marked a new higher low since the lows of December 2018.
After that a massive upwards trend occurred and the whole market surged more than 50% in the last weeks.
Instant S/R flip of the $218 billion level and currently rejected at the $300 billion resistance.
Is that a massive resistance? I don’t think so.
I do believe that the market has to find some stability and consolidation before it can make the next rally. If you see the 2019 run up, the similar occurred. Similar as well as in 2016. The real bull run still has to start. These are the pre phases.
Total market capitalization finding support in the $250-270 billion area (on the bigger picture) and I assume we’re likely continuing towards $350 billion. Personally I’m expecting continuation towards $430 and $520 billion to occur.
The total market capitalization chart is a chart I’m relying on a lot as it gives a pretty much clear view on the market.
The $166 billion area flipped as support, which marked a new higher low since the lows of December 2018.
After that a massive upwards trend occurred and the whole market surged more than 50% in the last weeks.
Instant S/R flip of the $218 billion level and currently rejected at the $300 billion resistance.
Is that a massive resistance? I don’t think so.
I do believe that the market has to find some stability and consolidation before it can make the next rally. If you see the 2019 run up, the similar occurred. Similar as well as in 2016. The real bull run still has to start. These are the pre phases.
Total market capitalization finding support in the $250-270 billion area (on the bigger picture) and I assume we’re likely continuing towards $350 billion. Personally I’m expecting continuation towards $430 and $520 billion to occur.