Total crypto market (CRYPTOCAP:TOTAL) 1D timeframe bull scenario
In this case ill try to show my perspective for bullish scenario.
Before last drop of total market cap value we get some signs from RSI which shows hidden bearish divergence, and break through 48 points level to fall even lower to 30 points. In the same time Bitcoin did 1224D from last top. BTC charts on weekly time frame shows VPVR volume held at 36k$ - 32k$ after this levels could see even 20k$ elevator - as last stop (2017 highs) - strongly dissapointing level, at this time.
Meanwhile on total crypto market cap chart we are forming ascending triangle on Relative Strenght Index close to 48 points. Crucial thing for me is to see higher volume at Fibonacci 0,236 lvl (1.648T Total Market Cap), breaking RSI 48 points line, and get some confirmation from lower time frame, like bullish pattern , engulfing candle at line or each other.
Regards
Before last drop of total market cap value we get some signs from RSI which shows hidden bearish divergence, and break through 48 points level to fall even lower to 30 points. In the same time Bitcoin did 1224D from last top. BTC charts on weekly time frame shows VPVR volume held at 36k$ - 32k$ after this levels could see even 20k$ elevator - as last stop (2017 highs) - strongly dissapointing level, at this time.
Meanwhile on total crypto market cap chart we are forming ascending triangle on Relative Strenght Index close to 48 points. Crucial thing for me is to see higher volume at Fibonacci 0,236 lvl (1.648T Total Market Cap), breaking RSI 48 points line, and get some confirmation from lower time frame, like bullish pattern , engulfing candle at line or each other.
Regards
