Crypto Total Market Cap
Crypto Total Market Cap
Almost everything is moving in symmetry. Whilst alts are doing their usual outperformance/underperformance against BTC, they are all moving in the same direction regardless.
Don’t overcomplicate the process for yourself, use the Total Market Cap to your advantage and take the stress out of analysing a million different coins. The Total Market Cap reflects the entire cryptocurrency market, also mirroring the price structure of the BTC/USD chart. This makes it perfect for understanding what the market as a whole will likely do next, without the added stress of analysing unnecessary charts
Monthly - Similar to the last BTC/USD monthly chart we posted, price is currently holding monthly support well, with the wild price action over the past few days creating a lovely wick and rejection from this critical support once again. If the spike down 2 days ago scared you, or caused a loss, your timeframe isn’t high enough. Our members are chilled, stress-free. The monthly yet again represents nothing changing. If anything, it’s actually looking stronger for the upside now.
Weekly - A wedge is beginning to form. The recent spike down was not necessarily a bearish signal. With just over 1 day left for this weekly candle closure, this now becomes the most important factor in dictating the next moves from the market. All of the longs amassed at this critical support will now be wiped, with shorters who chased the dump trapped at the mercy of the market. The upper resistance TL remains untouched, an easy upside target.
Daily - A chaotic few days to say the least. Buyers and sellers wiped with the spikes represented by the wicks highlighted. We are now stuck in uncertain territory on the intraday timeframes, this is a sign to take a step back, let the market settle and await the higher timeframe closure confirmations.
It’s refreshing to see some life return to the market. Once this trickery is over and done with, we should be seeing the 1Trillion Market Cap returning swiftly
Almost everything is moving in symmetry. Whilst alts are doing their usual outperformance/underperformance against BTC, they are all moving in the same direction regardless.
Don’t overcomplicate the process for yourself, use the Total Market Cap to your advantage and take the stress out of analysing a million different coins. The Total Market Cap reflects the entire cryptocurrency market, also mirroring the price structure of the BTC/USD chart. This makes it perfect for understanding what the market as a whole will likely do next, without the added stress of analysing unnecessary charts
Monthly - Similar to the last BTC/USD monthly chart we posted, price is currently holding monthly support well, with the wild price action over the past few days creating a lovely wick and rejection from this critical support once again. If the spike down 2 days ago scared you, or caused a loss, your timeframe isn’t high enough. Our members are chilled, stress-free. The monthly yet again represents nothing changing. If anything, it’s actually looking stronger for the upside now.
Weekly - A wedge is beginning to form. The recent spike down was not necessarily a bearish signal. With just over 1 day left for this weekly candle closure, this now becomes the most important factor in dictating the next moves from the market. All of the longs amassed at this critical support will now be wiped, with shorters who chased the dump trapped at the mercy of the market. The upper resistance TL remains untouched, an easy upside target.
Daily - A chaotic few days to say the least. Buyers and sellers wiped with the spikes represented by the wicks highlighted. We are now stuck in uncertain territory on the intraday timeframes, this is a sign to take a step back, let the market settle and await the higher timeframe closure confirmations.
It’s refreshing to see some life return to the market. Once this trickery is over and done with, we should be seeing the 1Trillion Market Cap returning swiftly
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