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Crypto Total Market Cap, $Crypto Total Market Cap, $Crypto Total Market Cap, $

Crypto Total Market Cap, $

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TOTAL Market Cap and Volumes indicatorsHow has Volume changed over the years? Crypto TOTAL Market Cap and Volume The vertical lines are key moments in TOTAL PA Starting back in 2017 and again in July 2019, Note how the volume on the Standard VOLUME indicator ( right under PA ) would seem as expected. It increased steadily Till Jan '21 and has been decreasing since, despite a New ATH in Nov '21 Below that is the VAPI ( Volume Accumulation Percentage Indicator) Note how VAPI was DECREASING before the ATH '17 and High that followed. That then happens again in Nov 2021 In #BTC push since Jan '23 the peak was late Jan and has been decreasing since even though we hit a high on PA in April Worth learning about in detail Then the OBV (On-balance volume) this is fairly straight forward an o real surprises. It was rising till May '21, Dipped and came back up for the Nov '21 ATH. and has been decreasing since. It is easy to read but sometimes can be misleading as we see from above. BUT note how the lower MA's in this indicator "Spike" just before a change of trend MVRV - Z Score (Market Value to Realised Value Ratio) This is NOT Volume based but works well with the VAPI and VFI This one is also worth you Looking into in detail Tends to Peak and retrace before ATH also VFI ( Volume Flow indicator) This is possibly one of my favourites. Very easy, From 2017 ATH, rapid Drop below ZERO line and then back up to next high in July '19 - ranged pretty well above 0 till Jan '20 and then rose till reached Top in Jan '21 and stayed there till ATH. It has been descending ever since For Me VAPI and VFI work well and using the MVRV Z just adds a cushion of info that adds up Using these to project forwards ( which is never recommended but I like living dangerously ) it is very possible that we will not start heading towards a New ATH until we reach the ZERO line on the VFI in Sept this year. September is not normally a great month so this could be the Turn around month and Oct is lift off ? This projection also works for the "Waterline" on the Z score to bounce off- last time it did that was March '20, that is if it falls through the line of support it is currently on Very hard to do a projection on the OBV but the VAPI does also suggest that in Sept this year, it may have reached a Max downside And Now, I HAVE to say, This could all be So completely Wrong and we could see something completely different and it is highly likely given the current Fundamentals in the world But at the same time, We have the expected date of Halving in April '24 and the run up begins anywhere from 300 day before ( around now ) , with the next ATH up to 500 days after Halving SO, Anything can happen from now till April '24, its just things maybe different this time ? Or will PA begin its push up soon and th eidea of Sep is in fact, a "Dead" Zone during that climb up ? Time Will tell This is NOT advice, Just a thinking cap Enjoy
CRYPTOCAP:TOTAL
by Orriginal
MARKETS week ahead: June 18 – 24Last week in the news Previous week was marked by the moves of central banks of both the US and EU. Fed made a short pause of further rate hikes, while ECB continued with a 25 bps increase. While EU equity markets were supported by the ECB decision, the US markets ended the week in red, after reaching new short-term highs during the week. On the other side, the BlackRock`s filing for first BTC backed ETF fund supported the crypto market as of the end of the week. BTC is finishing the week above $26K, ETH is holding above $1.7K. During the previous week, both FOMC and ECB meetings were held. As it was expected, the FED skipped to hike rates at June`s meeting, however, as per after-the-meeting statements, it is still not planned to halt further increases of interest rates, as two more are ahead. This pause will be used by FED officials to assess implications of current monetary measures. Two more rate increases would lead US benchmark interest rates to the level of 5.6% as of the end of this year. As Fed Chair Powell said, the full effect of current measures is still to be fully relieved in the future period. At the same time, their colleagues from the European Central bank continued raising rates by an additional 25 bps on Thursday. The rate increase is coming due to ECB`s expectations for headline inflation to be elevated during the course of this year at levels of 5.4% and 3% in 2024. The ECB also revised the expected growth rate for the EU for this year to the level of 0.9% and 1.5% in 2024. In her speech, ECB President Lagarde commented that the ECB is still not finished with rate hikes, indicating potential for another hike in July this year. Officially released data shows that the EU is in technical recession, where some economists think would be a limiting factor for ECB to continue further hakes from levels of 3.75%-4%. In a wake of disputes with the SEC, Binance is cutting jobs in order to prepare for the costly fight with the regulator, and also announced that the company will exit the Netherlands market. This decision is coming after Binance`s failure to obtain the license from Netherland`s authorities to conduct its business as a virtual asset service provider. In its official announcement, there has not been a comment over the cause why the Dutch regulator rejected Binance`s application. Still the company already obtained such licenses in France, Spain, Sweden, and several other EU countries. However, although Binance is claiming that the SEC`s allegations do not affect Binance`s businesses in other countries, still during the week the news hit the market that Binance`s office in Paris has been visited by the French police, investigating “money laundering”. As of the end of the week, the crypto market has been highly supported by the filing of the BlackRock, asset management company, for the first spot bitcoin ETF, where Coinbase will be its crypto custodian. Previous applications from other investment companies in the US for BTC ETF fund have been rejected by the SEC, so BlackRock`s filing would represent a sort of break-through on the market in case that it is approved by the SEC. Still, analysts are noting that BlackRock`s btc ETF fund is not the same as, for example, Grayscale`s ETF fund. The difference is coming from the structure of a trust which allows redemptions, so the fund will function like an ETF. On the other hand, GBTC did not have an option of redemptions. The crypto market gained significantly as of the end of the week, as this news was announced. Crypto market cap During the week the crypto market was trying to recover from the previous losses, but all investors' eyes were on the equity market, which gained strongly since the beginning of this year. Significant breakthrough was made at the end of the week, by the announced filling of the BlackRock, a largest asset manager in the US, for its first BTC ETF. This was the moment when markets regained positive sentiment, after the last two weeks of negative news related to the crypto industry and SEC`s allegations. Certainly, the recovery will be slow, but this move from BlackRock shows that investors are still not ready to give up on cryptos. Total market capitalization gained modestly from the week before, by adding total $27B to the market cap, which is a 3% increase. Daily trading volumes modestly eased to the level of $60B on a daily basis, from previous week`s $85B. Total crypto market capitalization increase since the beginning of this year currently stands at 37%, where it has been added total $280B to the market cap. It was a sort of mixed trading week on the crypto market, ending in a positive sentiment. Total crypto market capitalization has increased by 3% and was mostly driven by BTC in nominal terms. BTC gained $17.5B in its market capitalisation during the week, increasing it by 3.5% on a weekly level. ETH had a relatively modest week with a small loss of $1B in value or 0.5%. Regardless of all negative news, BNB managed to modestly recover from recent losses, adding $1.6B to its market cap, or 4.3% on a weekly basis. Altcoins with significant gain during the week in a relative terms were LINK, with gain of 10.4%, Uniswap surged by 13%, while Polygon, Algorand, Filecoin and Maker were up by 10% w/w. There has been an increase in circulating coins, where LINK managed to increase its coins by 4.1% and was the absolute winner of the week. Tether continues with an increase of its coins in circulation by 0.3%, while Filecoin added 0.4% w/w. Crypto futures market A relatively negative market sentiment was holding on the crypto futures market, regardless of the positive developments on the spot market as of the end of the week. BTC short term futures were holding relatively flat compared to the week before, still, the long term ones were traded more than 4% lower. BTC futures maturing as of the end of this year were traded at the price of $ 26.150, or 4.4% lower, while those maturing in December 2024 were down by 4.25% and were closed at price of $26.800. ETH futures experienced a higher drop from BTC futures, where short term ones were traded up to 10% lower on a weekly basis. Futures maturing in December this year were down by 10.5%, finishing the week at price $1.689. Futures maturing in December 2024 finished the week at price $1.730, which was by 9.85% from previous week`s level of $1.919.
CRYPTOCAP:TOTAL
by XBTFX
TOTAL market cap: where it will go? Let's make it simple: the total market cap is still in a big range since May 2022. The range's low was marked in December 2022. The range high has been confirmed recently in April 2023, almost a year after the whole market entered in this darvas box (May 2022). This week, the mid-range (Fib 0.5) was revisited. This level is also where the MA200D is found. Consequently, it's normal that whole market has been bouncing strong from there. What will be the next to happen? In charts, I put three scenarios which I consider the most probable to happen. Among them, I have a preference for scenario B, in short-term: The whole market cap to decrease to Fib 0.618. For a further projection, I thinkt that it's still soon to say. The reasons for my choice (B) are: From a technical analysis point of view, the total marketcap faces strong resistances: EMA 50D and the trendline starting from April 2023. Moreover, the volume indicator CMF lost its trendline. On fundamental aspects, the war between SEC and Binance is just at the beginning. Another one is that it will take time (months) for SEC to reply to Blackrock's application on bitcoin ETF. I'd appreciate if you can share your view on the crypto market and your comment o.n this analysis. Have a good new week!
CRYPTOCAP:TOTAL
by evasivesteering
🔥 Crypto Marketcap On 3 Year Support: Perfect Time For EntryThe total crypto marketcap has seen weakness over the last two months. However, it appears that we've found support (for now) at a huge diagonal support line which goes from the COVID lows to the 2023 open. This support falls in perfect conjunction with my Bitcoin analysis which discusses the idea that ~25k functioned as a spring for another leg up, see below. So, the total marketcap is on a huge support together with BTC, and a lot of alts are currently oversold on the daily RSI, perfect conditions for bulls to step back into the market. Do you think that the bottom is in, or that we're supposed to go lower in the near future? Share your thoughts🙏
CRYPTOCAP:TOTALLong
by FieryTrading
7
Crypto Total Market Cap, $There are several factors that could contribute to the significant drop in cryptocurrency market capitalization to around $42 billion. The following events or factors could affect such a decline: Massive sell-off of cryptocurrencies: If there was a massive sell-off of cryptocurrencies by investors and traders, demand would decrease and prices would fall. This type of sale could be due to, for example, security concerns, regulatory restrictions or broader economic factors. Regulation and bans: If countries or regulators take strict measures against cryptocurrencies, such as outright bans or significant regulation, this could lead to a decrease in investor interest and restrictions on cryptocurrency trading. Technical Issues: In the event of serious technical issues or vulnerabilities in blockchain networks or cryptocurrency exchanges, there could be investor distrust and reduced demand for cryptocurrencies. Negative Public Opinion: If public opinion about cryptocurrencies were to change dramatically due to, for example, widely publicized fraud, hacking or loss of money, this could lead to a loss of confidence and a decline in the value of cryptocurrencies.
CRYPTOCAP:TOTALShort
by Bitcoinblockchainonline
Crypt Total Market Cap, Uptrend?This chart shows the total Crypto Market Cap, includes every coin on the market. The Fib levels are drawn from the Covid Crash to the ultimate November Top. Upon the bearmarket retrace we bounced of teh 0.786 support zone to reach current resistance at 0.618. There is a clear uptrend forming, now this is nothing to trade with imo, just important to note that this might be an area of support. BTC is strong and we can clearly see that when comparing to the "Total Crypto Market Cap excluding BTC and ETH" If there is more downside here i expect BTC Dominance to hit those 52%-55% levels and ETH dominance to hit 22%-25% while the Altcoin market will suffer greatly... I still like the odds and will be swapping some ETH into altcoins once all the economical announcements are made this week and the data is clear. Will also keep ammo for lower levels. One thing to keep in mind, its all about perspective, just imagine seeing these levels during the bullmarket. These are the "Ah man i wish i bought then" levels
CRYPTOCAP:TOTAL
by Suneater69
V Shaped Recovery, Big Pump AheadOn the last crash, we came down and touched the 200 SMA and then when the dust settled we took off for a 40% gain on the market over the next 30 days roughly. This time around we are doing the same so far, we came down and touched the 200 sma. My Prediction is that this attack on crypto will lack any sort of real agency. They can try to cut off the money supply but its like trying to seal up a leaky vessel, money will get on and into exchanges anyways. Peoples fear will fade, and we will go back up. Because right now the SEC can only file papers in court and try to scare us. People should be laughing an Gensler and the SEC. We should V recover up to about 1.44T in the next 15-45 days. Then the real blastoff happens, heading into the next halving. Here is why, and this all hinges on one thing, the XRP case, which is comin to a close. A favorable outcome in this case will DESTROY Gensler and warrens "Attack on Crypto" because it will invalidate one of their main accusations which is that all ALTS are securities. Hey Gensler - Bye Felisha BOOM, market explodes.
CRYPTOCAP:TOTALLong
by iceguy154
1
MARKETS week ahead: June 12 – 18Last week in the news It was quite a stressful week for the crypto market, as the SEC continued with its effort to put crypto business in the US under “regulation”. On the other hand, US equity markets continue with gains during the last month, with S&P 500 moving above 4.300 points. Bitcoin is ending the week modestly above $25.5K, while Ether manages to hold above $1.7K. Previous week started with bad news for the crypto market. Both Binance and Coinbase were sued by the SEC alleging unregistered business aside from a few other regulatory topics. As officially published on SEC`s website, the SEC filed 13 charges against Binance entities and its founder Changpeng Zhao. As noted, charges include “operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities''. As for the lawsuit against Coinbase, SEC has officially published that the company is alleged for “unregistered offer and sale of securities in connection with its staking-as-a-service program”. Another issue is that SEC named at least 13 coins which they defined as “crypto asset securities' ', including Solana token, Cardano`s token ADA, Polygon`s MATIC and Protocol Lab`s Filecoin. Robinhood exchanger immediately took an action delisting all coins named in the SEC lawsuit. Market reaction was that altcoins crashed during the week. Still, BTC and ETH have not been significantly affected. All these companies made a statement during the week, strongly disagreeing with the SEC that these tokens are securities. On the other side, many analysts and investors are noting that this is all a result of lack of clear regulation in the US for crypto businesses. There are also those who find SEC lawsuits as positive for crypto, as they will finally bring some clarity into regulation. After the lawsuit from the SEC, Binance.US made an announcement that from June 13th they will be transitioning to all-crypto exchange, in which sense, they will no longer support deposits in USD, including USD-based trading pairs. All products currently offered will be available but only in crypto currencies. Markets in the US were generally supported by the recent debt-ceiling deal, and recent jobs data, where the US economy showed high resilience to the current macroeconomic environment and monetary measures imposed by the Fed. The US equity market indices were up to their highest level since August last year. However, not all economists are of the same opinion regarding resilience of the US economy. In an interview with CNBC, Bob Michele, Chief investment officer in JPMorgan Chase, noted that the previous recession in 1980 started after an average 13 months after the Fed`s final rate increase, and that current economic situation reminds him of that period. He also noted that industries which will suffer the most are “regional banks, commercial real estate and junk-rated corporate borrowers”. During the week ahead the inflation data will be released, and a FOMC meeting will be held, where potential for further rate increases will be discussed. Crypto market cap For one more time in the history of the crypto market, regulators were the ones to completely spoil a good game. Monday started with negative news about a new lawsuit from SEC against Binance, while already the following day another lawsuit emerged against Coinbase, one of the largest and also publicly listed crypto exchangers. Someone might say, there is nothing new with SEC, still, this time lawsuits were different and imposed significant market reaction. Namely, within the lawsuits SEC named at least 13 altcoins, treating them as the crypto asset securities. Some of the names mentioned include Polygon (MATIC), Sandbox (SAND), Filecoin (FIL), Axie Infinity (AXS), Chiliz (CHZ), Flow (FLOW), Internet Computer (ICP), Near (NEAR), Voyager (VGX), Dash (DASH) and Nexo (NEXO). This imposed significant run-off from these assets and also forced liquidations in margined open positions, pushing the prices further to the downside. Considering the circumstances, BTC, ETH and XRP were among rare coins which had a relatively good week, with a decrease in price below 9%. Total crypto market capitalization decreased by 9% w/w, losing FWB:98B in total value. Daily trading volumes doubled from a week before, moving around $85B on a daily basis. Total crypto market capitalization increase since the beginning of this year decreased to 33%, where it has added a total $253B to the market cap. It was quite a bad week for altcoins, which lost a significant portion of their previous value. Major coins, excluding BNB, lost less than 10%, which might be treated as positive considering general circumstances. BTC lost some 5.8% w/w, erasing almost FWB:31B in its total value. ETH was down by 8.3%, losing $19B in total market cap. XRP was also on the downside, with total cap decrease of almost 6% or $1.6B. BNB was strongly affected by the negative news, and lost more than 23% in value or $11B. ADA was mentioned in the SEC lawsuit, so its value dropped by more than 32%, loosing $4B in market cap. In this group belongs Filecoin, which was down by 31% , Polygon dropped by 37.6% w/w, while DASH was down by 31%. Majority of all other altcoins were down between 15% and 26%. The only coin which gained in value is Tether, with an increase in circulating coins by 0.26% w/w. As for other coins, there has been some increased circulation by 0.2% for Stellar and Polkadot, while Solana and Filecoin increased their circulating coins by 0.3% w/w. Crypto futures market Regardless of general negative news on the market, the BTC and ETH futures were holding relatively good during the week. However, it should be considered that CME is closed during weekends, so Saturday trading sessions on the spot market still have not been priced by futures on the organized market. BTC short term futures were closed on Friday less than 3% lower from the week before. December 2023 was traded at a 0.98% lower price from the week before, at level of $27.355. Futures maturing in December next year were down by 1.34% w/w, and were closed at a price of $27.990. ETH short term futures were traded down by some 3.6%, while futures maturing in December this year ended the week flat, with the latest price of $1.889. Longer term ETH futures were down by some 1.2%, with December 2024 ending the week at level of $1.919.
CRYPTOCAP:TOTAL
by XBTFX
Ninja Talks: Identification I used to identify a ton with being a "trader" - for a while it was cool to tell people you're a trader, they immediately get interested and it's a great way to flex. However, (1) It's in NO way useful to anyone except your own ego and (2) If you're genuinely not earning a living from your trading then even worst you are propping up a veil of deceit to everyone you meet. I've done both. Yes I was broke telling people I was a trader and then I became profitable and kept bragging I was a trader. Now I barely mention it to people. Quick side note: I'm not shaming the people with a dream who truly believe they can be traders and thus tell everyone they meet aka speaking it into reality, but understand the stark difference between delusion and reality and ultimately your trading will improve. Delusion kills accounts. Literally. That's why we lose. Delusion in analysis, opening and closing a trade is the symptoms of most ailing patient in the trader universe. So in closing all I'm saying is be careful how you speak to others, but more importantly to yourself. See you in the next episode Ninjas! Nick
CRYPTOCAP:TOTAL
by NinjaTradingServices
Slanted Mushroom Pattern: Short-Term Emergence!We are currently observing the emergence of a fascinating pattern known as the "slanted mushroom." This unique pattern tends to occur during bearish market conditions, yet it offers a glimmer of hope in the form of a spike, resembling the peak of a mushroom. In real-time trading, it can be likened to a moment of temporary respite amid a gloomy outlook, where the sight of a visually appealing mushroom protruding from the bushes brings a smile to one's face. Similarly, unexpected market dynamics resembling a mushroom can be encountered in trading, just as they appear in real life. However, it's important to recognize that mushrooms, like favorable trading conditions, are ephemeral and transient. Therefore, it is wise to anticipate a change in trend shortly after observing a spike. Remain vigilant and adaptable to evolving market conditions. May fortune favor all traders in their endeavors!
CRYPTOCAP:TOTALLong
by SharkNumbers
Preparing for A "Best-Case" Scenario As I've been talking about over the last several weeks, the market SEEMS overdue for some sort of relief rally. Although I believe crypto has begun a longer term downtrend and likely will not see all-time highs in the foreseeable future, it is not unreasonable to expect some hope to be injected into the market before further sustained downside. Of course, the market can also continue its death-spiral, but I'm seeing what usually constitute bottoming signals: 1) Overwhelming negative sentiment 2) Retail traders becoming interested in shorting 3) Extremely negative articles in the news 4) Low Bitcoin exchange balance - this one may not mean much since supply doesn't need to affect traded price, but historically the balance goes UP along with major distribution, not down. 5) Indicators. The MACD, Ultimate Oscillator, and Stoch all leave room for several weeks of upside, even if it's a slow grind. Unfortunately, many of these "bottoming" signals already presented themselves at the three previous "floors," at $32k, $28k, and now $17.6k. Most traders trying to time a bottom still expect the crypto market to reach a new all-time high eventually. I do not operate under this assumption anymore. I think most of those people will get rekt and throw good money after bad. This would be the phase where the larger exchanges assume even more risk to keep the market afloat, and the next leg down begins when those larger firms capitulate as well. I think the biggest crypto bulls (C.Z., Michael Saylor, etc.) will be forced to admit defeat before bottom is reached. This is just my brazen opinion. What's Different This Time?? The only thing that *could* be different this time is that declining oil prices may alleviate liquidity constraints across markets. We may even get a rapid deflationary period, kind of in a whipsaw reaction to easing supply bottlenecks and fuel price relief. Michael Burry mentioned something about this recently. Deflation could lead to momentary relief in markets, as people buy back some riskier assets. However, it may also be accompanied by declining profits for companies, and eventually severe layoffs. Optimistically, this could improve the outlook for small businesses and community organizations, but cause mayhem for large corporations. All of this is speculation, of course, since there are so many interacting variables with unpredictable behavior and outcomes. Why Would The Market Go Up, if Everything Sucks? I myself have been incredibly negative about crypto since the beginning of 2022, well before most of the carnage hit the market, so I was able to reduce my risk and get out in time. Here is the post that marked my transition from long term bullish to longer term bearish, in the very beginning of 2022. I received criticism from more experienced investors for being too flighty. But now is it time for me to become more positive? Am I still being too flighty? To be honest, I still don't see anything of substance emerging from the crypto market, but I do admit that the emotions of traders are likely to continue being manipulated, which could result in some surprisingly large upside moves. I think the most likely way traders will be manipulated is to the upside. Hence, I am looking for some opportunities at current levels to buy a little bit, to be sold towards the end of the year. I am so disconnected from any emotional attachment to crypto at this point that I can have a fairly balanced approach, and not care about wishing new all-time highs into existence. On the above chart, I've drawn a speculative trajectory to show a somewhat realistic outlook for the coming months, based on the broader market structure and sentiment. This is the best I think we can hope, if the market is to bounce. I think there is a slim possibility for a complete reversal here, but I noted the conditions necessary for that in my last analysis, linked here: People are now talking about the Pi cycle bottom indicator for Bitcoin, which just flashed. Sure, this can be a bottom. As I keep saying, buyers are welcome to that $20k Bitcoin at any time, although bulls really don't want to see it become heavy resistance. As it now stands, the 200 week MA is already becoming resistance for the very first time in Bitcoin's history. This is really bad news. But, it still holds on the TOTAL chart. What's particularly interesting about the above chart is that the TOTAL crypto market cap tested its 2017 all-time high perfectly. If it continues to hold, I think the market can build a bit of a base here and try to exit the downtrend closer to the end of 2022. My speculation is that this breakout fails and TOTAL cannot hold above its next major weekly Moving Average (100 MA, yellow), while traditional markets make a lower high peak after weeks of slowly grinding up. Then, once 2023 begins, markets enter a new phase of implosion. I think it's fairly likely we see some debt-related liquidations across major financial firms in the U.S., as the central bank will remain under stress due to over-reliance on the dollar. The crypto collapse in this case is a strong warning signal to major financial institutions. Without the ability to print much money, I think we enter the worst depression since the 1929. Something like this: How Can We Avoid The Collapse? Unless economic conditions sort themselves out miraculously, and unless humanity does some seriously aggressive problem-solving, I think it will be really hard to avoid a depression. Most importantly, the U.S. needs to motivate its workforce and develop projects people actively want to work on - such as improving transportation infrastructure and water management/conservation infrastructure. This could actively solve both inflation and labor issues while helping us move forward in a future that will likely be characterized by severe clean water shortages and changes in how we use fuel. Unfortunately, humans have been trained to be more reactive than proactive over the last century, which makes the aggressive problem-solving more likely to occur once we have reached peak disaster, rather than beforehand. Part of this is due to exploitation and wealth inequality. Since the wealthy elite hold the power and they also do not feel the effects of global economic turmoil until things are at their worst, they are unlikely to do anything preventative. This isn't always because they are bad people, but simply because their privilege makes them blissfully unaware, and less likely to take actions that they see as too "drastic." The good news is, major contractions are opportunities for growth, in the longer term. Think of it as a necessary growing pain for humanity. Now if this is the BEST-case scenario, what's the worst? Well, the market can actually just continue to the downside here and offer zero opportunity for people to get out at higher prices. This becomes more likely if traditional markets have not yet reached their short-term bottom, and if more systemic issues surface. Even if Bitcoin heads to a new low shortly, there is still the possibility for a relief rally in the coming months, although it's mostly guesswork. This is not meant as financial advice. This is meant for personal use, speculation, and entertainment only. -Victor Cobra
CRYPTOCAP:TOTALShort
by VictorCobra
5
Total lost a critical level of supportThis first part of the year was a good one for Crypto bulls with Total rising around 70% from the bottom to the top. However, after the mid-April top, Crypto Total Market Cap has started to drop, and what, at first, looked like a normal correction is looking more and more like a reversal to the main bearish trend at this moment. In favor of this outlook is the fact that yesterday Total lost an important level of support at 1.05-1.06 and this would suggest, at least technically, that this year's rise is no more than a correction, not a reversal. At this moment, as said, the market is under 1.05-1.06 support which should provide resistance now and we could expect continuation to the downside in the next weeks. In conclusion, I'm looking to sell rallies on major coins
CRYPTOCAP:TOTALShort
by Mihai_Iacob
20