Crypto Market Cap 33% Retracement Ahead
Total #Crypto Market Cap Monthly Chart.
Plenty of room to the downside... if using previous cycle, about another -33% before bottoming out after MA 6 crosses below MA 18.
Last time was >55% retracement after crossing.
Puts #Bitcoin at approx 20k from current 30k.
Given broader headwinds with inflation and tightening money supply via QT... lower than 20k is entirely within probabilities.
Plenty of room to the downside... if using previous cycle, about another -33% before bottoming out after MA 6 crosses below MA 18.
Last time was >55% retracement after crossing.
Puts #Bitcoin at approx 20k from current 30k.
Given broader headwinds with inflation and tightening money supply via QT... lower than 20k is entirely within probabilities.
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