$TOTAL Crypto total market cap - where could we find support?
I've used a log chart to get a better perspective of the total crypto market cap chart. According to my analysis, the 670-730bn Market cap value should act as a solid support zone. If looking to buy back into the crypto space, a reversal from this area could provide some confirmation that some sort of bottom could be in place.
This level as shown by the red box is where we find intersection of some important technical points
(1) Uptrend from 2015 lows
(2) Level under the 200week moving average which has acted as a bottom on two separate occasions
(3) The 2018 High which could now act as support should it be tested
Will be watching this important area with much interest to see if the crypto market can bounce off what is the longer term uptrend.
Happy trading!
This level as shown by the red box is where we find intersection of some important technical points
(1) Uptrend from 2015 lows
(2) Level under the 200week moving average which has acted as a bottom on two separate occasions
(3) The 2018 High which could now act as support should it be tested
Will be watching this important area with much interest to see if the crypto market can bounce off what is the longer term uptrend.
Happy trading!
"If you do what you love, you'll never work a day in your life" - Marc Anthony
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