I was expecting to see a strong drop, a retrace right after the market grew by more than 300B... This didn't happen.
The TOTAL Index chart is looking better than expected.
We know this one and BTCUSD are quite similar which is normal of course, since Bitcoin is the biggest crypto and thus drives the market to follow whatever it does.
MA200 has been tested as support and it holds. This is good news as it can open the door for additional growth.
We have a bullish cross of EMA10 and MA200, this is amazing news as it can push everything higher up.
The RSI as it is, support another rise in price.
If there is any kind of bearish action, it should be fast but short-lived. At most, it would be some sort of shakeout because the bulls are fully ahead... There is really nobody to sell, sellers are exhausted and that is why consolidation is taken place.
if not much changes today we will have an evening star reversal and dump hard in the coming weeks.
which makes sense because this looks like a fake breakout with little momentum to follow up and move higher.
InvestMate
â‹…
Thanks for the analysis
LUC_Capital
â‹…
It tested the 200 D EMA, which reflects a more short-term view. We will need to test the 200 D SMA (longer-term support confirmation) which currently sits at 905 before crypto can move ahead.
which makes sense because this looks like a fake breakout with little momentum to follow up and move higher.