Mihai_Iacob

Crypto market- Strong signs of a bottom (at least for now)

Long
CRYPTOCAP:TOTAL   Crypto Total Market Cap, $
It was a very difficult 12 months for crypto enthusiasts with the price falling 75% on average...
However, on the bright side, since the June low, which nicely coincides with 2018 high, bears were unable to make a new low and despite recent problems in the crypto environment, this low is holding for a month now and this, in my book, is a bullish sign.

Zooming in to the H4 chart:


We can see that after the dip from the beginning of November, the market is trading in a range with a high at around 81 and we can also speculate an inverted H&S with this upper boundary acting as a neckline.

That being said, in my opinion, a bottom is in place (at least for now) and I expect higher prices as long as the 75 zone is not violated.
The first visible resistance is around 86, however, I expect the market to get back above 1T in the medium term and even to 1.15T strong resistance.

My strategy is to find coins with at least 2X potential.

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