Is Crypto due to bleed 75% of its current Market Cap ?
Alright folks .. I am posting this idea and I am ready to take the heat as long as everyone will contribute with useful input.
Let's go back to the basics of technical analysis and leave the emotions behind ..
- We have Double Death Cross on the Market Cap Weekly chart .. the 50 EMA is crossing the 100 EMA and the 20 EMA is crossing the 200 EMA.
- The RSA will use the Death Crosses to reset and the RSA already signaled a bearish signal while entering the Oversold Territory.
- The drop might not be huge as the MACD is still undecisive but overall the MACD as well is with bearish sentiment.
- The Stochastic is entering the Oversold Territory and as well signaled a bearish signal.
- We might spend some time consolidating in the Oversold Territory.
- Overall there is a H&S that did not reach the target yet at 200 B. We will need to go there sooner or later even if we had a short bull run.
- The H&S target matches the Monthly 100 EMA and also the Red key Line for the Volume Profile (VRVP).
Facts:
- The current Market Cap is below 900B down from 2.9T in LESS THAN A YEAR !!.
- That makes it very believable that we can go from 900B to 300B in span of few months.
- After we hit the 300B Market Cap, I believe we will have a serious bull run in 2023 up to 800B or even 1.4B.
- Between Jan 2018 and March 2019, the Market Cap went from ~760B to ~75B .. So it happens !
- The drop is not a trap, it is just very normal that people are taking profit. This part of the cycle.
I might be wrong .. but I also might be right ..I don't post frequently but all my posts worked out except one ! .. Check them out below..
It is ok if you agree or disagree with me but I suggest you explain why you agree or disagree so we all work together to beat the market !
And btw, in Feb 2021 I posted that BTC will fall from 50k to 18k and people called me names and said it is IMPOSSIBLE .. Guess what :) .. I was wright and BTC fell just 4 months later .. Check the idea below
I EXPECT 2023 to be a GOOD BULLISH YEAR but the path to the good part of it will be full of blood I would say .. but don't forget that BULL RUNS NEED BEARS, the bears need to pull the market down and then the Bulls takes it from their and make profits.
Good Luck everyone !
Let's go back to the basics of technical analysis and leave the emotions behind ..
- We have Double Death Cross on the Market Cap Weekly chart .. the 50 EMA is crossing the 100 EMA and the 20 EMA is crossing the 200 EMA.
- The RSA will use the Death Crosses to reset and the RSA already signaled a bearish signal while entering the Oversold Territory.
- The drop might not be huge as the MACD is still undecisive but overall the MACD as well is with bearish sentiment.
- The Stochastic is entering the Oversold Territory and as well signaled a bearish signal.
- We might spend some time consolidating in the Oversold Territory.
- Overall there is a H&S that did not reach the target yet at 200 B. We will need to go there sooner or later even if we had a short bull run.
- The H&S target matches the Monthly 100 EMA and also the Red key Line for the Volume Profile (VRVP).
Facts:
- The current Market Cap is below 900B down from 2.9T in LESS THAN A YEAR !!.
- That makes it very believable that we can go from 900B to 300B in span of few months.
- After we hit the 300B Market Cap, I believe we will have a serious bull run in 2023 up to 800B or even 1.4B.
- Between Jan 2018 and March 2019, the Market Cap went from ~760B to ~75B .. So it happens !
- The drop is not a trap, it is just very normal that people are taking profit. This part of the cycle.
I might be wrong .. but I also might be right ..I don't post frequently but all my posts worked out except one ! .. Check them out below..
It is ok if you agree or disagree with me but I suggest you explain why you agree or disagree so we all work together to beat the market !
And btw, in Feb 2021 I posted that BTC will fall from 50k to 18k and people called me names and said it is IMPOSSIBLE .. Guess what :) .. I was wright and BTC fell just 4 months later .. Check the idea below
I EXPECT 2023 to be a GOOD BULLISH YEAR but the path to the good part of it will be full of blood I would say .. but don't forget that BULL RUNS NEED BEARS, the bears need to pull the market down and then the Bulls takes it from their and make profits.
Good Luck everyone !
