Crypto Market Cap Dip and Continuation Pattern
Updated
This is a study of the current dip in all the crypto coins, including BTC, ETH and Alts.
Since this run has been majorly driven by ETH's growth, I think it's important to look at the dip as an overall market that rotates funds, vs just the levels on BTC or ETH.
Here, we can see that the range is being respected exactly as in the previous dip in April.
The main difference is the rapidly accelerating consolidation in the zone of 1.9T to 2.1T.
This TA shows that if we hold the 1.9T line on the next retest of the lows, we will have a strong push towards 2.1T.
If after holding that line we break 2.1T This will be a very bullish reversal for continuing the massive bullish supercycle upwards.
Another indicator of this type of market cap growth is that most major alts are ready to break through against ETH, and will be taking all the inflow coming after this pump.
Since this run has been majorly driven by ETH's growth, I think it's important to look at the dip as an overall market that rotates funds, vs just the levels on BTC or ETH.
Here, we can see that the range is being respected exactly as in the previous dip in April.
The main difference is the rapidly accelerating consolidation in the zone of 1.9T to 2.1T.
This TA shows that if we hold the 1.9T line on the next retest of the lows, we will have a strong push towards 2.1T.
If after holding that line we break 2.1T This will be a very bullish reversal for continuing the massive bullish supercycle upwards.
Another indicator of this type of market cap growth is that most major alts are ready to break through against ETH, and will be taking all the inflow coming after this pump.
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This is a close up of the previous dip, indicating that we are still following the same pattern. Big scary dip coming up in 12 hrs.
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one last retest. it could be the lowest of the year.
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I'm having a bit of trouble locating the bottom of the dip, but it looks like 5:30am pacific time
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it's happening guys.... 15 more minutes and we have a verdict
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1.9 T didn't hold. Expect a 15% dropComment
2017 summer superimposed, hope at 32000 btc level
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