ALTS MARKET CAP ANALYSIS Welcome to this quick update, everyone.
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I also post altcoin setups on Spot, Margin, and Futures.
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The total market cap bounces from the support level or I think the price can pump from here up to 2T and MACD is making some similar pattern.
What's your thought on this?
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#PEACE
Totalmarketcap
Debt-Demand-Inflation-Crypto- ! WHAT HAPPENED IN FEBRUARY ! This is CRYPTOFILIO - Your dark knight in the lightness... Your peaches and cream, your crypto dream
Sometimes it's best to look under the bed to find the economic boogeyman!
This chart illustrates the interesting correlations between various macroeconomic factors. There are two key moments of recent divergence. The beginning of the pandemic and recently, February 2021. The first is rather obvious - THE PANDEMIC - but the second event... not so obvious!
Pre-pandemic these economic macro-factors were dancing in lockstep. Debt,Consumer Demand, and Inflation - Then you can see the wild divergence at the beginning of the pandemic. What's not so explainable and kind of interesting is the recent, very noticeable shift in February of this year. The bottom pane is the total crypto market cap (in a different scale). The percentage increase is very dramatic - showing just how much money has moved into crypto.
TOTAL (Crypto Market Cap) - Support, Resistance, Trendlines 2021TOTAL (Crypto Market Cap Index) - 2020 to 2021 - Daily Chart - Support, Resistance, Trendlines:
-Resistance Price Levels (colored horizontal lines above current price)
-Support Price Levels (colored horizontal lines below current price)
-Trendline Resistances (diagonal yellow line above current price)
-Trendline Supports (diagonal yellow line below current price)
CRYPTO MARKET CAP & COVID19 DEATHS - Conspiracy?! Coincidence!? Hi, this is CRYPTOFILIO, your dark knight in the lightness!
This nugget of truth is about DEATH and CRYPTO..... Almost as correlated as death and taxes...
The blue line is the crypto total market cap and the yellow line is COVID19 DEATHS in the US (same scale and percentage). I'm not saying crypto causes covid or covid causes crypto - or eggs cause chickens or chickens cause eggs.
Can you handle my cold hard crypto factoids, while I handle your warm, soft....
If a star fell from the sky every time I thought about you, then the sky would be empty... And, consequently, billions of innocent aliens, whose planets fell out of orbit... would suddenly die.
Think about these deep thoughts for your shallow life!
Total Cryptocurrency Market Cap Update 13/12/21: Road to $6T In regards to the Total Market Cap for the whole cryptocurrency market, since the 3rd Dec crash the total market cap dropped by 27% from $2.604 Trillion to $1.891 Trillion, revisiting previous levels experienced during the May crash and September. Over the past 10 day the total market cap has recovered +9% from -27% to -18% since the 3rd December. I believe we may retest the 200sma again just above the 61.80% before retesting the 78.60% fibs @ $2.43 Trillion and then the ATH @ $3.738 Trillion which we can expect during Phase 2 of this super cycle. Please see previous analysis below. happy trading :)
20/10/21: The road to $6T Crypto Market Cap 2022 forecast; On the 27th July we got further confirmation from the swing call script. We expect this move up to new ATHs to happen in 2 main push phases, the first a break above the 127.20% Fibs towards the 161.80% Fibs @ $3.985T. We can expect to reach the first target by eoy 2021/start of 2022. This may not be a as straight forward push as 2 push phases but several impulsive push phases with periods of accumulation and distribution maintaining bullish sentiment.
TrendTracers Weekly Market Analysis #15TL:DR
review last analysis
After the crash from last week we decided to stay fairly neutral in the market. We took some trades on a few Alt’s but nothing too fancy. Crypto hasn’t made any significant moves last week so staying neutral was the right call here in our opinion.
Conclusion
The market remains bearish, there is no indication that we are forming a bottom here. For the intra-week trades we will look for shorts at around 52k for BTC. At the same time shorts will probably be viable on Altcoins as well.
BTC
Bitcoin is exactly in the same spot where it closed last week. We are still waiting on a potential move up to 52k for shorts otherwise 43k.
BTC.D
Bitcoin was gaining strength against the altcoins this week after it touched 40% dominance on BTC.D. This might be a dead cat bounce meaning a potential alt season or a hold of support resulting in a further correction on the market.
ETH
Ethereum showing some weakness on the weekly chart, unlike last week. a close below 3970 today is considered a bearish sign. However if price does move up and we see a close above 4300 then new ATH’s are expected.
ETHBTC is still above the breakout point of the bull pennant. This week’s selloff can be considered a healthy pullback. However a close below 0.076449 is likely to be a swing failure pattern.
TOTAL
Last week’s close on TOTAL 1, 2 and 3 indicated an exit signal. This week the market cap tested our baseline and got rejected. We cannot assume anything bullish from this, we have to consider that a further correction to the down side is starting to become more likely.
TOTAL CRYTOCURRENCY MARKET VIEWSThe TOTAL CRYPTO MARKET CAP is found on a pretty strong support, where we have $2.153T and $1.965T as Monthly supports, and $1.963T as weekly support. The recent dump took it all the way down to the Monthly and weekly support of $1.96T, where we got a bounce pretty quick. There is a possibility that we could slowly test the $1.96T again in the few next days. A Monthly close above the $2.153T is crucial so that the bullish momentum can continue into beginning of next year 2022. But if we close a weekly/monthly below $1.96T, we will probably see the bullish momentum being delayed for a couple more months. Bear in mind that the FED decision about tapering still has to come out in the next few days, and that also can impact the markets negatively for a while, but yet to be seen.
What I am seeing now, it is a accumulation phase for a few days/weeks between $2.4T and $1.9T, which can be a good opportunity to buy for the long term.
My sentiment: MONTHLY -> BULLISH . WEEKLY -> BULLISH . DAILY -> BEARISH
Red lines = Monthly Supp. Resist.
Blue lines = Weekly Supp. Resist.
TOTAL - Tells The Whole Story!I usually keep an eye on TOTAL to get a feeling about the overall crypto market bias. Just like I keep an eye on DXY when it comes to Forex.
From a long-term perspective, the WEEKLY chart on the right, we all agree that we are still overall bullish.
Technically we are trading inside that big brown channel, and we are currently in a correction phase after rejecting the upper bound / brown trendline and 3T round number.
From a medium-term perspective, the DAILY chart on the left, we had a classic higher high, followed by a lower high, and then a break of the previous low. A classic market structure pattern, known as Head&Shoulders.
After breaking below the head and shoulders neckline, marked in gray, the bears took over and TOTAL started trading inside the red channel, making lower highs and lower lows.
That being said, we know that we are overall bearish, but what are the possible scenarios?
Scenario 1: Projection in Purple
A movement till the lower bound / brown trendline and green support zone is expected before the bulls take over by breaking above the red channel.
Scenario 2: Projection in Blue
A sudden shift in momentum, by an aggressive movement from here to break above the gray zone again, invalidating the red channel, signaling that the bulls are taking full control again.
Which scenario do you think is more likely to happen? and Why?
All Strategies Are Good; If Managed Properly!
~Rich
Total Crypto Market in another Bull market break?Total Crypto Market in another Bull market break?
In the Bull market 2017 we never had a bearish flip on the 2 day MA Ribbon.
This already happened this year and it took 76 days for a flip back to bullish.
Will time and price correction repeat?
For price I don't think, since the RSI is already low.
For time I can more an more imagine a cycle top Q1 2022 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*no financial advice
do your own research before investing
BTC On Head
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BTCUSDT - Daily
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As Christmas approached, the money went out of the market.
And we will probably still have more money coming out and the market will move sideways.
And we will not have significant movement in the market.
We may see movements in some altcoins.
But not as an Altseason.
Bitcoin seems to be completing the head and shoulders pattern.
In this case, we will see the price move down.
Of course, after a little upward movement.
Crypto Market TotalExpecting this support area to hold to carry the market above 3.5T. If it fails, we will be in a longer consolidation phase and I expect alts to bleed. So please hold :)
Technically following week should get the momentum to oversold territory and get ready for the next leg up, its already printing a hidden bullish div but this is only speculation and momentum usually is not a reliable indicator in total market caps.
Good luck!
X Mas Rally Around the Corner? Not so fast..1 minute ago
I think I'm onto something that shows a clear map of what could possibly happen in the Equity and Crypto Markets.
We are at a pivotal point for the stock market and crypto and the writing is on the wall.
Currently, BTC is losing steam and broke a major support line in the last couple of days.
Equity markets have bounced but could be in a B wave for a C potential leg lower
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On the Horizon-
We have 2 realistic negative catalysts in the near term to close out the year which could be narratives for markets to go lower.
*COVID 2.0
*Inflation Taper from the Fed on the 13th December (This could cause a sudden reaction or this could already be baked into the price)
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-Now we can clearly see that there is a correlation between the US equity market and the total cryptocurrency market along with the US dollar .
- Retail investors in the stock market are expecting a Xmas rally and the Retail crowd in the Crypto community are expecting a 100k Bitcoin by year-end...
-I personally think that this sheep psychology has been too predictable for retail investors and this possibly could be a bull trap. The financial elites are indirectly using sentiment and Youtubers and Influencers are simply puppets to influence retail to buy the dip and HODL.
-You can tell that the big players and smart money have been exiting high growth equities and crypto as the US dollar has been gaining superior strength lately...
-This could be a huge opportunity for the institutions and big players to dump their bags on retail with all the liquidity that is created. They can close out the financial year with insane profits from 2021 and create tax-loss harvesting offsets by selling their risky investments. They could rock the entire markets changing the whole sentiment to be bearish then re-buy back into equities and crypto at cheaper prices in the new year for a great run to head start to the year in 2022. Not to mention Chinese New Year in Feb 1st 2022
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One reason I know why crypto hasn't run out of steam just yet...
-There hasn't been an ALTCOIN season yet. BTC .D needs to drop
-US dollar has to eventually reverse
-BTC hasn't made a parabolic advance yet after long periods of consolidation. We are almost missing the last 5th way in the Eliott wave cycle
MarketCap - Still Early!! (Rapid Increase) An idea using mainly the True Strength Indicator, which shows an evident two comparable points, we are at a point of continuation.
Using the Log trend indicator it shows a slow period of increase (which we are in) and then a greatly more rapid one, which we are on the brink of
Lets see how it plays out
Linking some relevant charts