Total Crypto Market CAP showing strong bullish signals.
Updated
TOTALTOTALAs I mentioned in another review two weeks ago (You can see it in related ideas below that post) the Total Market CAP chart is where we can see the most reliable signals of a reversal. The market moves in cycles and for a reversal to be considered valid it is necessary that we look at the greatest amount of assets possible in that scenario, in our case Total Mcap represents the whole sphere of cryptocurrencies.
The large falling wedge has already been broken and very consistently, RSI & MACD are in very strong uptrends and both pointed up and holding the positive side of the balance (MACD above 0, RSI above 50), the volume is also growing so constant and reached the highest value since January 2018.
Apparently we will see Higher Highs on this chart in the coming weeks, with the Adam & Eve Pattern neckline breaking, and yes I will consider that we will have a short/mid-term reversal in the market as a whole.
Even if this goes to confirm, we should see a brief correction before, because in pairs like BTCUSD and ETHUSD we can already see short-term bearish divergences.
The marketcap target after the breach is around 188Bn.
Any euphoria before breaking this neckline is unnecessary and we need to be skeptical by avoiding rushing and acting on impulse in trades. But we can have good hopes for the next few weeks as the market is showing very strong signals of reaction.
Thank you for taking the time to follow up on my reviews. God bless!
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As everyone knows Bitcoin is in charge of the market and with the recent dump the market is still suspicious, but we can see a new rise in the coming weeks.
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