Hey traders! Let’s dive into this weekly TOTAL Crypto Market Cap chart. The headline says it all—Total Market Cap Is About to Explode, and we’re here to break it down!
We’re seeing a massive expanding triangle formation, with the market cap currently at 3.21T, right at retest of triangle resistance. Historically, these patterns have led to parabolic moves — check out the 2019 - 2020 breakout! If history repeats, a breakout could send the market cap soaring toward 8.0T or even higher!
However, if the breakout fails, we might see a pullback to the previous level of support around 2T.
Key Levels to Watch:
Resistance: 3.66T (ATH)
Support: 2T
Breakout Target: 8.1T+
Breakdown Risk: 1.20T (latest strong resistance below 2.6T)
Is the market cap about to go parabolic, or are we in for a fakeout? Let’s hear your thoughts below!
We’re seeing a massive expanding triangle formation, with the market cap currently at 3.21T, right at retest of triangle resistance. Historically, these patterns have led to parabolic moves — check out the 2019 - 2020 breakout! If history repeats, a breakout could send the market cap soaring toward 8.0T or even higher!
However, if the breakout fails, we might see a pullback to the previous level of support around 2T.
Key Levels to Watch:
Resistance: 3.66T (ATH)
Support: 2T
Breakout Target: 8.1T+
Breakdown Risk: 1.20T (latest strong resistance below 2.6T)
Is the market cap about to go parabolic, or are we in for a fakeout? Let’s hear your thoughts below!
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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.