May this be the most important period for the future of crypto?
I am looking at the weekly TOTAL2 chart and whilst my bias is bullish based off of the current status and based off of that I think the industry has fundamentals and foundations to evolve as widespread and adopted technology eventually the market will decide. And based on the chart it may decide shortly.
On the weekly chart MA50 is so close to cross MA200 for the first time ever since is tracked. Break to the downside will eventually or likely to confirm the cross BUT this does not necessarily mean that crypto goes to hell however it does increase its likelihod significantly IMO.
IF support holds and market cap will break e.g. weekly DC20 to the upside (closing above) in the upcoming weeks/few months we may see a massive bull run.
I am currently trading just a very few altcoins against BTC ($WABI, $RCN, $ZEN, $MAN) however I will be stepping aside IF my SL criteria will be met on the daily TF in these trades. Whether into $BTC or $USD that is another question.
BTW - TOTAL2 currently sits on MA50 on monthly TF. IMO the upcoming weeks/2-3 months are critical.
Thank you and please trade carefully and with money you can afford to lose!
On the weekly chart MA50 is so close to cross MA200 for the first time ever since is tracked. Break to the downside will eventually or likely to confirm the cross BUT this does not necessarily mean that crypto goes to hell however it does increase its likelihod significantly IMO.
IF support holds and market cap will break e.g. weekly DC20 to the upside (closing above) in the upcoming weeks/few months we may see a massive bull run.
I am currently trading just a very few altcoins against BTC ($WABI, $RCN, $ZEN, $MAN) however I will be stepping aside IF my SL criteria will be met on the daily TF in these trades. Whether into $BTC or $USD that is another question.
BTW - TOTAL2 currently sits on MA50 on monthly TF. IMO the upcoming weeks/2-3 months are critical.
Thank you and please trade carefully and with money you can afford to lose!
Comment:
Monthly chart:
