Hello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Total Crypto Market Cap.
The chart is self-explanatory. The total crypto market cap fell out of the Ascending Channel most recently formed two Bear Flags, back to back. The measured moves are shown in the chart. Though I want to be bullish on crypto, it seems there is still strong downside pressure with the measured moves still intact.
My last Total Crypto Market Cap warning:
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Interesting! I had not noticed those bear flags when I was looking at the crypto charts! Thanks for this post.
MillionaireEconomics
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@spy_master, Yes they are either bear flags or bear pennants for the most part. Keep an eye on volume and angle of the formation to confirm if it truly is bearish. Good luck buddy!
SpyMasterTrades
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@CRYPTOPICKK, Yes meant pennant, sorry! It will be interesting to see where the weekly and monthly candles close later this week.
MillionaireEconomics
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@spy_master, Definitely worth keeping an eye on it!