Get started

TOTAL2

Cryptocap Bitcoin Based Divergence?Are we at the beginning of a divergence of the total Cryptocap based on Bitcoin rotation? We have just challenged the ATH of the Total Cryptocap Space. This is based on BTC hitting a potential asymptote. Does BTC experience a prolonged sell-off into cash and the Alt-Coin market from this point on? I am guessing yes. Expect Alt-Coins to gather steam. XRP may seem to be left behind during this current BTC pull back. Expect XRP to catch up once BTC finishes its retracement back to previous ATH level and begins its accent again.
CRYPTOCAP:TOTALLong
by orlinmyer
TOTAL MARKET CAP (Y20.P5.E31).Daily. Bearish DivergenceHi All, As we are making gains with BTC and some ALTs, we can see that the top trend line is acting as resistance and hence the wick on today's candle. We can also see the daily with some bearish divergence coming into play. What this indicates is that we are approaching a potential pullback however where and when is difficult to know as divergences play out, then after the fact, we acknowledge. In my previous post, I did state that 2017 market cap was larger than was we have of current and that most likely we could have a rejection on the weekly resistance level or all time high. I still believe this has merit and this divergence adds another component to the business case. What do you think? Does it have merit? When I look at my BTC top prediction, this also has confluence to the potential wave 3 macro target. I will leave it here and place some relevant charts for you to think about. Cheers, S.SAri. PREVIOUS POST
CRYPTOCAP:TOTAL
by ssari
1
CRYPTO TOTAL MARKET CAP (Y20.P5.E2).What does it tell us?Hi All, I thought I take a look at the total crypto market chart and see if it gives us any clues to what's next. Observations: > Previous all time high in 2017, where BTC was 19800 (depending on the exchange) had a bigger market cap than now; > When BTC was at its ATH, BTC dominance was at its lowest? Opposite of today, so far; > BTC dominance seems to have a strong resistance around 68% level on a few occasions; > BTC dominance in 2019 made ALT (prior to 2016 there weren't many coins on the market), above 68% and ranged for a while, while BTC did a distribution structure; > Current BTC dominance is at 67.35% > On the chart, I have the weekly levels of the candle stick (body) resistance levels, total market cap did not hit target because of this drop; > As you can see, the BTC dominance historically has another level of resistance 72.8% which which occurred twice, but we don't know the relationship based on the chart; > MACD on the weekly total market cap is still bullish with upward pressure, however its a delayed indicator; This weekly closure could tell us if we are to have that big pullback; THOUGHTS or CONCLUSION: The total market cap is still falling short from the previous high, so much of the hype on BTC price doesn't really be backed by the total market cap, even though we have much more coins and much more maturity in the crypto space, the market cap could be a indication as to where the major resistance is, not the price of BTC or but the market cap ATH mark or the weekly resistance. For now, the red line of the weekly resistance could be the level where BTC might find resistance and have that pullback or at the all time high, double top resistance level on the total market cap. BTC dominance is likely to have a rejection or ALT season when it reaches 68% level or like previous times, at 72.86% That's what I'm taking away from this TA and keeping an eye out for. All the best traders, Regards, S.SAri PS. Yesterday I posted some observations with the general market and how BTC drop was in sync with the general market drop. Until we see it go up, or sideways, BTC will be in uncertainty territory.
CRYPTOCAP:TOTAL
by ssari