If it spikes more, we'll sell more
Comparation between the Bitcoin and the Total market capitalization which is moving in alignment and exactly the same with what the total market capitalization has been showing us. It's no surprise because all of us agree that the bitcoin is now becoming the mother of cryptocurrency because majority the altcoins are highly correlated with the bitcoin's movement.
Just like what we mentioned earlier, we see the market capitalization is still moving right around the psychological number of $1T and for sure the majority of the investors are still in the 'wait and see' stage where there is a huge uncertainty on the market right now. However, we see some slowly bullish push to the upside which represents the positive sentiment on lower time frame.
Another thing that we see it will give a strong effect to potential more upside movement is that during current upside correction since the bottom is formed, we haven't seen any sign of FOMO from the retails which indicates the confidence in the market is slowly diminishing. In order to push the price lower (Institution goal) so that the big players can buy much more on the dip, the price must show us a huge upside spike as the last bullish trap before it actually goes down very hard.
In this case, we see the huge bullish push will come in play very soon and it will provoke the retails to catch the buy and drives the price a little bit higher around $27000 - $30000 before we see a slam back down to the area of $12000 or less which is the area we anticipated since the beginning of the year.
The scenario we mentioned earlier is moving in a nice alignment with the presentation of market capitalization and for sure it's a good thing to see because we can SELL more of our holding on this possible bullish trap scenario.
Just like what we mentioned earlier, we see the market capitalization is still moving right around the psychological number of $1T and for sure the majority of the investors are still in the 'wait and see' stage where there is a huge uncertainty on the market right now. However, we see some slowly bullish push to the upside which represents the positive sentiment on lower time frame.
Another thing that we see it will give a strong effect to potential more upside movement is that during current upside correction since the bottom is formed, we haven't seen any sign of FOMO from the retails which indicates the confidence in the market is slowly diminishing. In order to push the price lower (Institution goal) so that the big players can buy much more on the dip, the price must show us a huge upside spike as the last bullish trap before it actually goes down very hard.
In this case, we see the huge bullish push will come in play very soon and it will provoke the retails to catch the buy and drives the price a little bit higher around $27000 - $30000 before we see a slam back down to the area of $12000 or less which is the area we anticipated since the beginning of the year.
The scenario we mentioned earlier is moving in a nice alignment with the presentation of market capitalization and for sure it's a good thing to see because we can SELL more of our holding on this possible bullish trap scenario.
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