Hey everyone, welcome back to the Sharing Profit TradingView channel! In today's technical analysis, I will go into depth on the current plays of the Crypto Total Market Cap. We have seen such fantastic volatility recently, which has been paired with all time highs on Bitcoin, because of strong institutional pressure. However, because of events like the US elections, the release of information on vaccines, and the world redefining what they deem strong asset classes, we have our eyes all over the Bitcoin scene.
This creates great trading opportunities, and for crypto traders this is a dream come true. When you're trading Bitcoin on the shorter and higher timeframes like me, this chart might help you prepare for the new week.
I highlighted the most important horizontal zones on the chart, along with why I think they play an important role at the moment and how you can use them too.
In short, overall I expect the price to continue along its bullish trend until it reaches its next liquidity region. Once there, I expect to see some of our last resistance where profits will look to be taken by long term holders. I would suggest to look until about $700 billion, and enter your long position around $500 billion, for maximum risk reward.
All the information should be visible from the chart. If you have any questions or comments, feel free to comment below or send me a direct message on Tradingview.