Cryptocap
Total Crypto Cap Bull Above 200D EMA Im not paying attention to the BTC death cross like everyone else. I am watching the total crypto cap and the 200D EMA (blue line) Break below on volume and I am far more bearish on crypto and BTC.
I have my spot holdings hedged with shorts. Capital preservation.
TOTAL Crypto Market finding support and resistance 1.5 to 1.7T The TOTAL crycpto market cap has been in this 1.5 to 1.7T range before and has shown these lines to be both support and resistance. The big question is the market cap going to find support at 1.7T and then head upwards, or will it find resistance at 1.5T and head downwards.
This is a neutral post as I am unsure at the moment, but trying to see where the total crypto market takes support or resistance is a good starting point for me.
Best of luck out there.
John
CRYPTOCAP ~ Just for posterity, you can refer back to this laterI wrote a reply to some guy, in some thread, and I think its worth just making a timeline-post here about it.....
Copy/paste:
@ArtfulDodger1974, dont worry nothing here will fall. I can tell you confidently that I do business with whales, HNI, etc --- big and smart money. They are going into crypto big. Just yesterday - an example: Steve Cohen manages $22bn and he is setting up a deal right now to jump in. Big. It wont be publicized much I think, but do a search on it in 2-3 weeks.
I could tell you 20 other big money moves going into crypto - that WERE NOT in crypto previously - and THAT is the really big difference right now.
I am sure you can figure this out, but I'll say it anyway: smart/big money doesnt make moves lightly. When we decide to go into something - we are going to ensure it is the right thing, and it is going to be longterm, and viable, and work. Because our money is what decides that.
I was in crypto with my firm about 1.5 years before these guys that are moving en masse now, so I got a bit of a headstart - but I am certainly no Saylor (the "spokesperson" for instituional crypto asset management, if I can peg a label....).
I have also been in crypto PERSONALLY for slightly longer (about 2.5 years? 3 maybe? not counting that I mined bitcoin in 2013-2014 for fun on all the machines at my office when all my employees went home and I ran it over night --- that wasnt much anyway but it was nice to find that old wallet 4 years later and have a little nest egg I had totally forgotton about).
What we are talking about here is the difference between 100,000,000 (100M) poor working class people with an average of $2000 (thats the # thats been reported on robinhood and all these platforms avg trade volume / users), who will invest in something and sell it on an emotional whim or tweet ---- vs a massively growing list of: family offices + venture capital firms + large priv and public companies + "big" HNIs like musk, zuckerberg, and the next 500 on that list.....
So let me break it down:
100m retail idjits * $2000 = $200bn
there isnt even close to 100m of them - but lets just say 100m to be super generous....
--vs--
+ only 1% of the wealth of the top-500 HNIs = $10T
+ only 1% of the balance sheet of the average $100m+ company = $10T
+ only 5% of the asset management of the average-weighted family office/vc/pe firms = $10T
we could add allot more like pension funds etc
so we're looking at a total of >$30T that is already coming into crypto or will be coming into crypto over the next very short period --- possibly 2 years.
remember:
1 year ago we were a $250bn market cap - that was ALL CRYPTOCURRENCIES!
1 year later (today) we are 10x at $2.2T market cap. bitcoin ALONE is over $1T market cap.
if we do another 5x this by next year? we are a $10T market cap asset class.
I do not believe we are going to SLOW DOWN - I believe we are SPEEDING UP.
We could easily become a $20T asset class before you realize it.
The people, and entities, who decide these things: WE ARE BUYING CRYPTO LIKE CRAZY RIGHT NOW.
Its almost all OTC, which means its not on the exchange orderbooks. None of you see this.
Buy during the most bearish times!For all my followers; we anticipated this dump of the market since BTC was at 64/63K and we came a long way; we did all the pips for the week and thus BTC can consolidate this weekend. The total crypto cap found a local bottom and shows a clear bullish divergence which means we can see a short term recovery for the market as a whole. This means calmer BTC times are coming for the immediate short term which will allow alts to fly! Personally I'm very bullish on VET given it finished an ABC correction and can easily pump 20% in the next day or two. Lots of short term opportunities out there and remember; when the market is bearish, we turn bullish! (for the immediate short term)
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Binance Coin $BNBUSDT PT 700 and higher Binance Coin’s Surge Elevates Token to Ranks of Crypto Titans
Binance Coin has strengthened its position as one of the world’s largest cryptocurrencies after an 18% rally in the past 24 hours knocked back its rivals for the third spot behind Bitcoin and Ether.
Issued by the world’s largest crypto exchange, the digital coin commonly known as BNB now has a market capitalization of $89.4 billion, according to CoinMarketCap.com. That makes it the third-most valuable cryptocurrency behind Bitcoin at $1.1 trillion and Ether at $246 billion. The token has traded places with Tether and other coins for weeks, underscoring BNB’s increasing importance in the crypto ecosystem.
Coinbase Global Inc.’s public debut this week is one reason for the recent jump. Digital coins of other cryptocurrency exchanges have been on a tear as well, with coin of exchange Uniswap up 12% in the past 24 hours, and the token of FTX exchange up nearly 6%. Coinbase, the largest U.S. crypto exchange, will be the first major cryptocurrency company go to public with an estimated valuation of about $100 billion.
$CryptoCap - time to prove your worth - alts to thrive?Previously we saw breakouts on this 'altcoin dominance' chart meant alts ran pretty damn well against BTC
E.g. DeFi summer 2020 where any coin with finance in its name would 10x
E.g. new year ape szn where 80% of coins 5x
I think the second example is not done yet though
Market just saw a massive correction in alts again and if this 1W candle holds the breakout and the 0.5 this cryptocap chart would suggest alts have momentum to grow against BTC
As BTC also looks decent - bull flag is brewing etc. this could be an explose couple of months especially when the DXY's track-record for April is poor
Time to find some plays on some alts by the looks of things
BTC Rising WedgeBTC is in a critical rising wedge right now.A breakout down would send it down to 52k, causing popular blockchain stocks like RIOT and MARA to retrace over 20% (RIOT could his $40). A break up would be market positive for the crypto market cap as a whole and would send Bitcoin, along with other altcoins flying. My end of month target for Bitcoin is $68k but this will only happen if we see a positive breakout from this wedge. Otherwise my targets would not change but my timeline would lengthen.
Why I think ALT season will hit in Q1 2021 !!!The blue trendline speaks for itself, we are facing strong resistance at 72.40.
It is unlikely to see Bitcoin dominance above that area, but if that happens you should consider selling all of your ALTs as they will be shitcoin soon after.
So the invalidation for ALT season is breaking above 72.40.
BUT HOW FAR WE CAN GO DOWN WITH BTC.D ?!
- The most crucial support is currently locating at 58ish,
- Testing and possibly Losing that one will be the peak of ALT season, and we should expect BTC.D to retrace from the pink area.
Make sure to share your ideas with me and everyone who sees this in the comment section below, and hit that like button ;)
BTC On Its Way To $42,000 According to Late 2017 FRACTALIn this technical analysis I will explain why $42,000 is a very realistic scenario for the price of bitcoin. According to the fractal from late 2017 we would still be able to have an upside potential of at least 20% before we enter a downtrend again.
From a TA perspective it seems hardly sustainable to see the price of BTC grow as much as it has this recent time period, but planning the trend reversal (besides being potentially very profitable) is going to be extremely hard.
The yellow line is drawn by taking the price data from the late 2017 to early 2018 period. This was the moment the previous bullrun happened and when we printed our previous ATH of slightly below $20,000.
Applying old data onto a current chart is called a 'fractal' and gives you the opportunity to understand what might happen in the future or what empirically could be a realistic scenario.
Using this specific fractal we can get an idea of what a realistic pivot point could be and what a realistic price target could be on a BTC that is still rising every day.
The incredibly sharp drop witnessed after the previous bullrun is what should scare you. The drop can be very very intense after the top has been seen. A chain reaction of panic can cause the price to drop really really quickly.
Just imagine when people start selling, the price will drop and newspapers and newschannels will start reporting on the drop. This will in turn create a very widespread awareness about the fact that the price is dropping and might cause even people who don't look at the chart daily to log in and start taking action.
We have seen a similar concept of course in the rise of the price. As soon as the all time high broke, lots of people would have been notified about bitcoin who previously weren't concerned about it. Simply because the media helped to spread awareness.
This caused the chain reaction that pumped the price to these massive new heights.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!