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Incoming Drop for Total Crypto MarketMethod: 1. Draw best representative overall trend line (green) 2. Draw fibonacci retracement from local minimum to local maximum following the 2018 peak -> I consider this local minimum as the start of the "new era" of crypto as during this time, many financial institutions have started to on-board to crypto -> There is considerably more crypto awareness both in the political sphere and the mainstream after this point 3. Using the same local mins and max points from #2, draw fibonacci time zones 4. Turn on RSI , which shows the strength of market according to historical price 5. Turn on volume indicators, which shows strength of market according to historical volume Thoughts: - Downward volume pressure seems poised to overcome upward volume pressure. - RSI shows bearish divergence. - Fib time frame indicates a significant price movement. - Resistance from June 2019 peak has been hit. Prediction: - Price will likely move downwards in the coming days, but will work to create a higher low, either at the .382 or the .236 fibonacci support. - Crypto is heading up in the long term, however, this movement upwards will likely look different than the run-up of 2017-2018 as institutional money plays a larger role in this new era.
CRYPTOCAP:TOTALShort
by Kickyou77
TOTAl MARKET CAP (Y20.P3.E1).A quick look at the marketsHi All, It is good to look at the general markets to gauge the whole picture as to what's going on for Crypto is not immune to global pressures, the black swan effect proved that. BTC or crypto is getting there or we would like it to get there but that might be another 10 years away where it can stand on its own. The above chart is interesting, which basically totals up the whole crypto $$ and this to shows how money in brought in to the eco system. What can we take from this and the other markets, here is my summary. a) The total market cap is approaching a key resistance as per chart and it won't surprise me at the first touch, that we have a small BTC pullback, if not now with the reattempt of 12500 or after that 12800 which might hit the b) The SP500 and NASDAQ chart shows that the stock market is still with upward pressure which is good news for BTC or crypto; c) GOLD just did a bounce and will soon likely to break up for more gains; All in all, everything looks good with upward pressure, maybe too good.? Reuters > Market sentiments at "It's no longer a "bear market rally" - BofA survey" The long gold trade was the second most crowded, with a net 31% saying the metal was "overvalued", the most since 2011 after no participants said they considered it to be so last month. Gold XAU= rose above $2000 an ounce for the first time earlier this month. As global equities near record highs again, strategists told Reuters that the quickfire bear-to-bull switch was not only justified but deserves to go further.. *** This is when the market will cash in some big profits, soon. CRYPTO Total Market Cap CHART, Weekly: Weekly indicators still have upward momentum however with the Phoeix, we can see energy starting to slope downwards and with its black dot, indicating caution. The green and red RSI on the Phoeix is still bullish territory. This weeks candle closer will tell us if we are going to have a reversal or if we are going to have new highs. MACD weekly signals are wide apart showing bullish market still. ========================================================= SP500 CHART ========================================================= NAS 100 CHART MY BTC Macro hypothesis for now
CRYPTOCAP:TOTALLong
by ssari
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