Finally I got my videos working again...so it seems. Here, I'm able to provide a more comprehensive update (in a silly voice, of course). Hope you enjoy. I will be going away soon, so I'll be gone from Tradingview for at least 10 days. So I thought I'd provide this update. In this video, I discuss the total crypto market cap, on balance volume, Bitcoin, Ethereum, XRP, NEO, VeChain, XLM, and Bitcoin Dominance.
I forgot to mention the bullish cross that happened between the 50w and 100w MA in this video, but I don't have time to re-record. This cross produced a 100% move to the upside in 2016, but has yet to cause any reaction this time. Perhaps that's still something to pay attention to, in case we break out of the downtrends here before testing any lower levels.
This is not financial advice! This is meant for education, speculation, and entertainment only.
-Victor Cobra
I forgot to mention the bullish cross that happened between the 50w and 100w MA in this video, but I don't have time to re-record. This cross produced a 100% move to the upside in 2016, but has yet to cause any reaction this time. Perhaps that's still something to pay attention to, in case we break out of the downtrends here before testing any lower levels.
This is not financial advice! This is meant for education, speculation, and entertainment only.
-Victor Cobra
Comment:
The total crypto cap has still somehow held $180B. A break below here could send us straight to the bottom of the channel, but oscillators are showing oversold conditions. It'll be interesting to see what happens here. Tomorrow will be my last day of updates before I go away until the 28th.
Comment:
TOTAl2 is holding the same horizontal area as the previous dump (so far)
Comment:
I think Bitcoin getting above $7300 again would be a good long signal, because it would then be clearing the short term downtrends (pink). It can then tackle the downtrend resistance, around $8.2K. It's still within the realm of possibility that the false break below the channel on November 25th was the bottom. What we want to see is current prices continue to hold, otherwise we can try to test the bottom of the channel again. As I discussed in this video, I think downtrend channels like this aren't meant to be broken down from. Even if Bitcoin is to head towards lower levels, I think we need to exit this channel first. Only my opinion.
