Crypto total market,analys for short term (1-2 weeks)
Hi Guys
This time I'll show my tight field of view of whole cryptocurrency market. Last several days we move in upper channel pattern - which is a strenght signal that we are in up trend from march. If the prediction is correct, and we are forming rising wedge pattern, in short term - ill stay and wait for next move. RSI is oversould,but still pointing down. If we have engulfing bearish candle or othersign which is close below wedge (a few 4h candle - supported by volume, or 1D), this will be massive bearish sign. Leaning on Fibo retracment it could get easly to 433.B crypto total market which is 5% of funds. This is good time to check bitcoin domination - if it is stable, thoooose altcoins will bleed. Fear & Greed index for today: 86 points. Next week should show the further direction.
Cheers!
This time I'll show my tight field of view of whole cryptocurrency market. Last several days we move in upper channel pattern - which is a strenght signal that we are in up trend from march. If the prediction is correct, and we are forming rising wedge pattern, in short term - ill stay and wait for next move. RSI is oversould,but still pointing down. If we have engulfing bearish candle or othersign which is close below wedge (a few 4h candle - supported by volume, or 1D), this will be massive bearish sign. Leaning on Fibo retracment it could get easly to 433.B crypto total market which is 5% of funds. This is good time to check bitcoin domination - if it is stable, thoooose altcoins will bleed. Fear & Greed index for today: 86 points. Next week should show the further direction.
Cheers!