This is a macro perspective on the overall crypto market. Total Market Cap formed a weekly pennant. The long term bull trend line is green and the bear trend is blue. If we break down below the green trend line the bears have won for a while and we continue bleeding value. If it breaks above the blue bear trend a new bull market has begun.
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Looks like crypto has decided we are going to make a push to breach the blue trend line and begin a new BULL market. If we break above the down trend I believe we see a rapid appreciation for crypto currencies in dollar terms.
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We just breached the blue bear down trend! In my opinion we have begun the new BULL :bull: market.
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We broke to the upside of the downtrend. Now we wait and see if the bulls take over and catapult the TMC. I am expecting some large moves to the upside within 5 weeks. By April we should be fully confirmed in a new bull run.