NASDAQ CRYPTO INDEX Analysis
The NASDAQ Crypto Index has broken its neckline resistance on higher time frames (1D) and is currently holding above it with more than decent strength.
The cup and handle pattern that could be starting to form after this breakout is probably the most significant indicator of what we can expect from the market in the next 3-4 months.
If we see successful neckline support (previously resistance), the market would be sending the confirmation institutional investors are waiting for before entering significant long positions for BTC, ETH, and other large-cap alts, which would be the cause for a definite ATH break.
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Best Regards, iSmashProfit™
The cup and handle pattern that could be starting to form after this breakout is probably the most significant indicator of what we can expect from the market in the next 3-4 months.
If we see successful neckline support (previously resistance), the market would be sending the confirmation institutional investors are waiting for before entering significant long positions for BTC, ETH, and other large-cap alts, which would be the cause for a definite ATH break.
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Best Regards, iSmashProfit™
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