Many of you are no doubt stressed wondering when the selling is going to stop. An end may be in sight. The chart presents the total crypto market, amongst which a few interesting signals have appeared. The most obvious is just how oversold and weak the market is shown to be on the RSI & Stochastic indicators. The largest candle to date since the selling started...
I have been expecting to see that $2k - $1500 BTC but I am starting to re-think that potential outcome.
Corrective waves and a fairly clear bullish falling wedge that could indicate we could be near a potential bottom relative to total marketcap.
- volume starting to show up at end of triangle
- corrective wave could be complete
- still room to the downside...
Now that tradingview has the total market cap charts it really makes things a lot easier to analyze in crypto. Shout out to tradingview.
This is a very simple analysis. Sometimes the most simple analysis works best.
We have an ABCD set up here.
If you measure the AB wave it took about 50 days or so to complete. We then saw the C wave pullback 50% in a matter of...
CRYPTOCAP:TOTAL
This is the Total market cap of crypto, so all the money in the entire crypto currency market.. The “Dow Jones” for crypto essentially..
$32B has flowed into bitcoin & altcoins in the last 3 days, while everyone has been looking at the stock market.. (from $98B on Sunday to $130B, that’s MASSIVE. Santa Claus rally?
COINBASE:BTCUSD is up $1,100...
While the overall total crypto marketcap still finds itself in the same long bull flag, the historic RSI trendline has been touched at support level - I don't expect a further mc decrease in the short-mid term.
Btc leading the whole crypto market crash as usual, so what do we expect this time ? to me the we will see a slight bounce when we hit the tempoary bottom while we hit the lows at Chinese government regulation and keep heads down to the high demand region at around 80 billions dollar total capital cap. which can be a bottom that lasts for a quarter or half a...
The total market cap is back to the trend.
If it hold is good.
If it hold not is really not good.
see the related idea on bitcoin for a more complete explanation of what is happening now
BIO
This will be interesting to see, the market cap is dropping into to some massive support ranges from last year. These ranges in my opinion will be were we range for the next few months. The range highlighted is the most supported range on the weekly for a while. If it breaks below this range, alot of coins will go to zero and the weeding out will begin. That is...
