DEFIETH
10 TradingView Crypto Indices You Should Know!📉📌 10 @TradingView Crypto Indices You Should Know!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. And I want to start by thanking @TradingView for putting these indices together - making our life easier.
A couple of days ago, TradingView posted a tweet (attached on the chart) highlighting these 10 Crypto Indices. So I thought it would be a good idea to go over it and post its analysis as per my trading style.
So grab a cup of coffee or tea, and let's enjoy it together 😁
📌 BTC.D - Market Cap BTC Dominance
🗒 BTC.D is rejecting a strong support zone in green. For the bulls to take over short-term, we need a break above the last minor high in orange.
And for the bulls to remain in control from a medium-term perspective, we need a break above the main high in gray.
If we break below 40% level, then we will be expecting BTC.D to dive inside the green zone.
📌 ETH.D - Market Cap ETH Dominance
🗒 ETH.D has been stuck inside a range. For the bears to take over, we need a break below the orange zone and lower red trendline. In this case, a movement till the 13% green zone would be expected.
In parallel, for the bulls to take over, we need a break above the upper gray high. In this case, further bullish movement till around the upper red trendline would be expected.
📌 USDT.D - Market Cap USDT Dominance
🗒 USDT.D rejected our blue support zone last week and traded higher. We are currently sitting around a supply zone. If we trade higher, then we will be approaching a strong resistance zone in green.
For the bears to take over, thus for the bull run to start for Crypto, we need a break below the blue support AND lower blue trendline.
📌 USDC.D - Market Cap USDC Dominance
🗒 USDC.D is overall bullish trading inside our two red trendlines. For the bulls to remain in control, we need a break above the last major high in green.
Meanwhile, USDC.D is sitting around the upper red trendline acting as a non-horizontal resistance that might push price lower inside the range again.
For the bears to take over from a medium-term perspective, which would be healthy for the crypto market, we need a break below the lower red trendline. In this case, a movement till the 4% support zone would be expected.
📌 TOTAL - Total Crypto Market Capitalization
🗒 TOTAL has been overall bearish for a while, and lately we have been trading inside the red channel.
The next support that might hold TOTAL up is the 500B - 600B demand zone.
For the bulls to take over from a long-term perspective, we need a break above the 1 Trillion round number in blue.
Meanwhile, every bullish movement would be a short-term correction.
🗒 TOTAL2, TOTAL3, OTHERS and TOTALDEFI charts are very similar to TOTAL
📌 TOTAL2 - Total Market Capitalization (Excluding BTC)
📌 TOTAL3 - Crypto Total Market Cap (Excluding BTC and ETH)
📌 OTHERS - Crypto Total Market Cap Others
📌 TOTALDEFI - Total DeFi Market Capitalization
📌 DEFIETH - DeFi/Ethereum ratio
🗒 DEFIETH is stuck inside a range.
For the bulls to take over, we need a break above the upper gray zone AND upper red trendline.
For the bears to take over, we need a break below the lower gray zone. In this case a movement till around the 15% demand zone would be expected.
Hope you find this article useful. Feel free to share your thoughts or request any chart analysis.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
