CRYPTO TOTAL MARKET CAP (BULLISH IDEA)
Updated
Hello Avid reader,
I would like to share my take on the possible scenario for the Crypto Market.
1 - The market has been in consolidation phase for the past 4 months, creating a Typical Bull-Flag pattern.
2 - As you can see that the lows of the channel have been tested 4 times, but the selling pressure got absorbed on each test, signaling a Strong reversal.
3 - The mid of the channel (represented by dotted white line) precisely provided resistance / support to the PA in all the previous moves which is clearly visible on the chart. But the thing which I would like to highlight here, is that this time, the Price, very comfortably broke through the mid-zone and re-tested it as Support.
4 - There is a BISI (Buy-Side Imbalance & Sell-side inefficiency) highlighted by the green box. The PA might indulge this zone to grab un-touched Liquidity.
5 - USDT's Dominance is weakening and has formed a Bear-Flag pattern.https://www.tradingview.com/x/qijDKQjt/
Areas of interest are market on the chart.
6 - In Summary, I expect the Crypto Market cap to rise significantly in the upcoming weeks, especially in Q4 2024 & subsequently, in Q1 2025. We are likely to face some resistance in the 2.5 T to 2.55 T area, as highlighted in the red box. Thereafter, 2.7 T and 3 T would be my areas of interest for selling.
Thanks.
I would like to share my take on the possible scenario for the Crypto Market.
1 - The market has been in consolidation phase for the past 4 months, creating a Typical Bull-Flag pattern.
2 - As you can see that the lows of the channel have been tested 4 times, but the selling pressure got absorbed on each test, signaling a Strong reversal.
3 - The mid of the channel (represented by dotted white line) precisely provided resistance / support to the PA in all the previous moves which is clearly visible on the chart. But the thing which I would like to highlight here, is that this time, the Price, very comfortably broke through the mid-zone and re-tested it as Support.
4 - There is a BISI (Buy-Side Imbalance & Sell-side inefficiency) highlighted by the green box. The PA might indulge this zone to grab un-touched Liquidity.
5 - USDT's Dominance is weakening and has formed a Bear-Flag pattern.https://www.tradingview.com/x/qijDKQjt/
Areas of interest are market on the chart.
6 - In Summary, I expect the Crypto Market cap to rise significantly in the upcoming weeks, especially in Q4 2024 & subsequently, in Q1 2025. We are likely to face some resistance in the 2.5 T to 2.55 T area, as highlighted in the red box. Thereafter, 2.7 T and 3 T would be my areas of interest for selling.
Thanks.
Note
Lovely.PA following the plan :)
Mitigated BISI and bounced from exactly the Mid of our Channel.
We are on our way to 2.5T.
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