It's getting closer for the next bull run, Expecting ATH
Back at the March 2020, when the total market capitalization has touched its local bottom at the same level of interim swing low at 2018. At that time, a lot of traders called a further dip for bitcoin and the entire crypto space, but once again the majority will always lose! Now, by the time goes, the market capitalization has its bounce and is now testing the most crucial levels in the market.
The first level which I want the crypto market cap to watch is the resistance trend line which has occurred since June 2019. With yesterday's bitcoin claimed back to the support trend line as, there are some huge net buy coming and indicate the money inflow for crypto market capitalization in near future. With this type of projection, you know that there is a possibility for the market capitalization to breaks out of this trend line as well.
The second level will be more crucial than the first one. The second level is simply the previous broken support that is now becoming resistance for the market capitalization. It's around $350 Billion. We've seen several attempts for breaking out of this level previously but always ended up with a rejection and bullish trap. From now on, I will wait for the confirmation of the market cap to breaks out from this level. Once it's done, we'll see the significant increase of volume and money inflow in the cryptocurrency universe. At that time too, we'll see another potential ATH on most of the strongest coin in the market.
The first level which I want the crypto market cap to watch is the resistance trend line which has occurred since June 2019. With yesterday's bitcoin claimed back to the support trend line as, there are some huge net buy coming and indicate the money inflow for crypto market capitalization in near future. With this type of projection, you know that there is a possibility for the market capitalization to breaks out of this trend line as well.
The second level will be more crucial than the first one. The second level is simply the previous broken support that is now becoming resistance for the market capitalization. It's around $350 Billion. We've seen several attempts for breaking out of this level previously but always ended up with a rejection and bullish trap. From now on, I will wait for the confirmation of the market cap to breaks out from this level. Once it's done, we'll see the significant increase of volume and money inflow in the cryptocurrency universe. At that time too, we'll see another potential ATH on most of the strongest coin in the market.
