Crypto MarketCap (Bigger Picture)
We Are Looking At Crypto MarketCap On A Daily Time Frame
A Clear Breakout to the upside probably shocked a lot of people, but the question is.
Will it find a support and continue to go up? Or is it an Up-Thrust Action After Distribution?? (UTAD)
*UP 640% since March 2020 Lows
*UP 68% after breaching previous ATH
Price Analysis & Targets:
BULL -> Finding Support @ around 110-115T --> Upward momentum can lead to 1.6T MCAP conservatively (based on previous price movements)
I believe that this Bull Run will CAP at around 3.5T MCAP Tops Before going into another Bear Market. (As much as i want it to go to 10T quickly, it would make sense and healthy for the market to take its time and stabilize a little bit in order to sustain itself. I am against over manipulation or pump and dump schemes because it ruins the natural growth of the market which can drive away future investors).
BEAR -> On the Other Hand, Breaking down the support level may confirm a UTAD movement and can lead to lower levels to fulfill the distribution pattern. This can bring the whole market back down to 700B.
Ripple law suit settlement may play a BIG role as to where we are heading short term. A crypto regulation may be underway which can be good or bad. But this is what we all have been waiting for, a regulatory clarity! Regardless of the outcome, it will be the key to drive out bogus projects and scams in the crypto space.
In my opinion, the market is still very early and still has a lot to offer. People are now realizing the potential of cryptocurrency as a new asset class. Wether they believe it is the future, use it as a hedge from this unprecedented time or to just speculate and make money on the side. Regardless, more and more money is influxing into crypto and i believe that this is just the beginning!
LET ME KNOW WHAT YOU THINK! 🧐
I Try To Make Things Simple For You To Understand :)
💡 IF YOU LIKE MY IDEA, PLEASE HELP AND SUPPORT MY CHANNEL BY
HITTING THE THUMBS UP, LEAVING A COMMENT AND FOLLOWING 💯
*You are Welcome to REQUEST CHART ANALYSIS at Anytime! Simply Comment Down Below or DM Me :)
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⚠ DISCLAIMER:
Trading Involves High Risk! I Share My Trading Positions And Ideas With You For FREE
BUT Please Be Responsible For All Your Actions.
This Chart is Used for Educational Purposes Only And NOT A Recommendation to Buy or Sell the Asset.
A Clear Breakout to the upside probably shocked a lot of people, but the question is.
Will it find a support and continue to go up? Or is it an Up-Thrust Action After Distribution?? (UTAD)
*UP 640% since March 2020 Lows
*UP 68% after breaching previous ATH
Price Analysis & Targets:
BULL -> Finding Support @ around 110-115T --> Upward momentum can lead to 1.6T MCAP conservatively (based on previous price movements)
I believe that this Bull Run will CAP at around 3.5T MCAP Tops Before going into another Bear Market. (As much as i want it to go to 10T quickly, it would make sense and healthy for the market to take its time and stabilize a little bit in order to sustain itself. I am against over manipulation or pump and dump schemes because it ruins the natural growth of the market which can drive away future investors).
BEAR -> On the Other Hand, Breaking down the support level may confirm a UTAD movement and can lead to lower levels to fulfill the distribution pattern. This can bring the whole market back down to 700B.
Ripple law suit settlement may play a BIG role as to where we are heading short term. A crypto regulation may be underway which can be good or bad. But this is what we all have been waiting for, a regulatory clarity! Regardless of the outcome, it will be the key to drive out bogus projects and scams in the crypto space.
In my opinion, the market is still very early and still has a lot to offer. People are now realizing the potential of cryptocurrency as a new asset class. Wether they believe it is the future, use it as a hedge from this unprecedented time or to just speculate and make money on the side. Regardless, more and more money is influxing into crypto and i believe that this is just the beginning!
LET ME KNOW WHAT YOU THINK! 🧐
I Try To Make Things Simple For You To Understand :)
💡 IF YOU LIKE MY IDEA, PLEASE HELP AND SUPPORT MY CHANNEL BY
HITTING THE THUMBS UP, LEAVING A COMMENT AND FOLLOWING 💯
*You are Welcome to REQUEST CHART ANALYSIS at Anytime! Simply Comment Down Below or DM Me :)
````````````````````````````````````
⚠ DISCLAIMER:
Trading Involves High Risk! I Share My Trading Positions And Ideas With You For FREE
BUT Please Be Responsible For All Your Actions.
This Chart is Used for Educational Purposes Only And NOT A Recommendation to Buy or Sell the Asset.
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.
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.