Total crypto market (CRYPTOCAP:TOTAL) 1D timeframe
As was mentioned before - after several 4h candles, upper line of price channel was rejected, and we fell on turquoise line.
Currently we are back into price box since we reached the upper line of price channel. Stochastic RSI suggested oversold, close to lower line of price channel, and it could be potenttialy good opportunity to go up.
Many weaks above last few candles, suggesting lot of selling preasure. Anyway last few months, best enter into market was, at turquoise line, or last two lows – at 60 moving average. If the price will fall out from price box, and cant hold turquoise line, next stop will be at 60 moving average. If we break up 60 moving average on daily – this is bad news.
20th February correction was close to 28% from top to turquoise line. April 16 – around 28% correction. This time we got around 24%, if we continuing to get 28% that will be around - 1,85T total market cap. This mean - back to third top from whole run since December. After it im turning bearish.
Meanwhile BTC formed rounding top & another lower low which is a bad sign - imho anyone who’s got into much earlier, may still sit calm, until 42k $ - the last bastion, at least for the next few weeks.
Enjoy!
Currently we are back into price box since we reached the upper line of price channel. Stochastic RSI suggested oversold, close to lower line of price channel, and it could be potenttialy good opportunity to go up.
Many weaks above last few candles, suggesting lot of selling preasure. Anyway last few months, best enter into market was, at turquoise line, or last two lows – at 60 moving average. If the price will fall out from price box, and cant hold turquoise line, next stop will be at 60 moving average. If we break up 60 moving average on daily – this is bad news.
20th February correction was close to 28% from top to turquoise line. April 16 – around 28% correction. This time we got around 24%, if we continuing to get 28% that will be around - 1,85T total market cap. This mean - back to third top from whole run since December. After it im turning bearish.
Meanwhile BTC formed rounding top & another lower low which is a bad sign - imho anyone who’s got into much earlier, may still sit calm, until 42k $ - the last bastion, at least for the next few weeks.
Enjoy!
