This is a brief overlook of the cryptocurrency market.
With the parabolic price rise that has taken place since the crash from the pandemic, cryptos all across the board have been in a major impulsive buyers market.
We have seen a nice-sized pullback from the highs of 50-60k on bitcoin.
With cryptocurrency, you are seeing a lot of similar correlation across the market with a nice-sized retracement.
What I am waiting for is for the trend bricks and the trend meters to line up on a weekly chart buy confirmation, as I do prefer to trade the larger timeframes for longer-term investments.
We look at the total market cap, bitcoin, ethereum, litecoin, and dogecoin in this analysis to show you the correlation within the market to help you know when a top is in play.
I try to avoid price speculation and let the trends come to me. Staying patient in the markets and letting the big picture unfold is where you will find your best price entries.
For now the weekly and the 3-day charts are bleeding out, with no signal for me to want to enter the cryptocurrency sector.
I wish the best for you all,
Take Care.
With the parabolic price rise that has taken place since the crash from the pandemic, cryptos all across the board have been in a major impulsive buyers market.
We have seen a nice-sized pullback from the highs of 50-60k on bitcoin.
With cryptocurrency, you are seeing a lot of similar correlation across the market with a nice-sized retracement.
What I am waiting for is for the trend bricks and the trend meters to line up on a weekly chart buy confirmation, as I do prefer to trade the larger timeframes for longer-term investments.
We look at the total market cap, bitcoin, ethereum, litecoin, and dogecoin in this analysis to show you the correlation within the market to help you know when a top is in play.
I try to avoid price speculation and let the trends come to me. Staying patient in the markets and letting the big picture unfold is where you will find your best price entries.
For now the weekly and the 3-day charts are bleeding out, with no signal for me to want to enter the cryptocurrency sector.
I wish the best for you all,
Take Care.