The MARKET came to the zone of strong resistance!The market came to the zone of strong resistance, it is the center of the channel. Judging by the market sentiment, we will actively try to break through this zone. If we are not able to consolidate above 137 billion, it is worth to wait for a serious rollback of the market. Watch.
Totalcap
TOTAL Volume analysisTOTAL has been on a massive bull run since the release of cryptocurrencies. PVT shows huge demand for cryptocurrency. Cumulative volume index shows a steady increase of buyers flowing into the market. Overall net trend is looks extremely positive. Included a fractal that shows a possible price reversal point at the long term uptrend.
Weekly Total Market Cap (Oct 27) Cash out period really!#TOTAL $TOTAL #MARKETCAP #CAP #TOTALCAP
It is still a coincidence that the Total Market Capitalization will reach the 150B$ zone on Jan-01 2020.
But then, maybe we will see a big possibility that the market will bounce back above 300B$ in May 2020. At this time, BTC DOM is going down, which means that capitalization will flow into Altcoins.
But what we should do is to wait for the next delist to see money will flow into which Altcoins.
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Atlast the priceline entered in potential reversal zone of SharkAtlast the priceline of Cryptocurrency Total Market Cap. Exclude Bitcoin is entered in potential reversal zone after completing a bullish shark pattern.
The stochastic is already in oversold.
Volume profile of complete pattern is showing very low interest of cryptocurrecy trading at this area.
Histogram of MACD was strong bearish now it turned weak bearish from 1st to 9th Aug on four day chart, So this blink is an indication of bull signal soon.
We have a golden cross formation between 50MA and 100MA and both moving averages are also the strong support for the price action.
Since after Dec 2018 this is the 1st time that the price action is hitting the bollinger bands support.
Since after Jun 2018 atlast 1st time the ichimoku cloud is turned strong bullish and lagging span is still above the priceline, now the candle sticks are hitting the spike at bullish cloud.
RSI upto 2 day chart is oversold:
We have a strong support at: 75278567254, if the price action would be reversed from here then it can form a strong double bottom formation insha Allah.
So there are more indications that the altcoin bear market will be ending soon rather than the continuation of bearish market.
I have used Fibonacci sequence to set the long position and short position area as below:
Long position area starts from: 73021550046 to 59531072880
Short position area starts from: 90010083679 to 122244430179
Regards,
Atif Akbar (moon333)
Altcoins vs. Bitcoin - is there any hope left for Altcoins?Even with BTC over $6,400 and being up more than 75% since January 2019, we have not seen any major bullish move by the rest of the CryptoCurrencies.
The question is if correlation between Bitcoin and Altcoins are going to fade, or not!
In major crypto exchanges still the main currency is Bitcoin.
What it Would take to Defeat the Big Grizzly BearThe total crypto market cap would have to cross the 120+ billion level. That number lowers with time, as the log down trendline advances into lower numbers (so, for instance, if it were to happen now, it would have to be 130 billion; if it happened in April, 120 billion would suffice to break that line): this is why time is so important. Time is as important as price. We often underestimate the importance of time.
A bunch of things are happening (Lightning Network ecosystem booming, Bakkt coming in 2019, etc.) - it's impossible to predict when that will happen. Remember also we don't need 10 billion fresh fiat into crypto to go above that, that's now how market cap works. It's not about fiat pouring into BTC/crypto, rather, it's about the PERCEPTION of value. (For instance, if by tomorrow nobody wanted to sell their crypto anymore, the supply would be reduced and the price would rise instantly without having new fiat pour into crypto).
Let's see how this develops. Have fun.