I've come to believe that this crypto index is a very good indicator of which direction crypto is moving. We observe crypto as a complete market and make of best predictions.
Recently crypto has been more explosive than usual, which can also be observed by the spikes. i do not believe this is sustainable for the time being, and i would not be surprised to see a bear market taking place for a few weeks.
On the chart we see a clear double top across our crypto index. It's already reflected in on the chart. The question is now wether this will be a large scale correction or bounce towards new highs. I'm leaning towards the first scenario, but always be prepared for the other outcome.
Recently crypto has been more explosive than usual, which can also be observed by the spikes. i do not believe this is sustainable for the time being, and i would not be surprised to see a bear market taking place for a few weeks.
On the chart we see a clear double top across our crypto index. It's already reflected in on the chart. The question is now wether this will be a large scale correction or bounce towards new highs. I'm leaning towards the first scenario, but always be prepared for the other outcome.
Trade active
Keep an eye on .236Trade active
Either we doom to .236 or we see a W bottom with more upside.Trade active
Lower high, likely break .236 on next turn down.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.