Total Crypto Market Cap in depth analysis before $1 TRILLIONLast year Crypto reached $3.00 Trillion milestone. Today 20 March total valuation is close to $1.83 Trillions and it bouncing around $1.67 - $1.93 during last months since beginning of the year.
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Check out the pics below to see why I consider market crash for this year:
1. 2018 - 2019 structure just repeating itself today:
Price just lining with rising support (dashed line) before the breakout and creating lower highs and higher lows.
2. SP500 correlation quite similar today, price had break down to support zones in 2018 - 2019 years, price stuck in sideways (dashed-flag) before another breakout:
In 2022 it is a different picture and price sharply going down, creating some kind of wedge look, and now back up to Resistance zone of $4560 where it can reverse again if there is another fears on the market come up during April-May period.
In case of reversal from resistance, I think SP500 can finish correction near support at $3900-ish zone, which mean another -19% crash for US stock market, at this point investors can drag down risky assets easily and Crypto will be highly volatile during this event, so shakedown to $1.00 Trillion or lower is quite possible event in our future.
Thanks for your attention
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