This is a chart of the total crypto market cap on the monthly. It's clear to see we are still in an up trend, but will it hold?
The entire market is showing a bearish divergence on the RSI but we have previously had a strong bounce off off this level. If the market does a similar thing this time we should be in for a strong bounce up.
The question remaining is will it make new highs or rollover and go lower? Stay tuned to find out. If the monthly RSI can break through the resistance at about 76 then I believe we will.
Lets keep an eye on it and see the close for February, then the next couple months and see where we are in April. At that point there will be more information for us to asses going forward.
* Never buy and sell assets according to the news*
The entire market is showing a bearish divergence on the RSI but we have previously had a strong bounce off off this level. If the market does a similar thing this time we should be in for a strong bounce up.
The question remaining is will it make new highs or rollover and go lower? Stay tuned to find out. If the monthly RSI can break through the resistance at about 76 then I believe we will.
Lets keep an eye on it and see the close for February, then the next couple months and see where we are in April. At that point there will be more information for us to asses going forward.
* Never buy and sell assets according to the news*
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