CRYPTOCAP:TOTAL2   Crypto Total Market Cap Exclude BTC, $ (CALCULATED BY TRADINGVIEW)
By taking a step back, we can see that Altcoins have been struggling since early 2018, which is at the time of the global sell-off in cryptocurrencies after the 20k $ bitcoin rally.

Now, 2 years later, Alts market cap is getting close to a double support: a first one ascending since 2015 who have not been broken since then. The second one is horizontal, who was first a resistance back in July 2017 and became a support in December 2018 and again now in march 2020.

We can also see a descending triangle shaped by a 2 years resistance, which is a bearish sign.

Now I see two scenarios:
- A breakout below the two supports would mean the Bitcoin maximalists were right and altcoins could not find enough use cases to exist at the side of Bitcoin
- A breakout above the resistance, and a new altcoins cycle.

What do you think?
https://blockchainfiesta.com - Automated Strategies with Backtest and Alert Setup

🔥Get the Cyatophilum Indicators today 🔥 => https://blockchainfiesta.com/strategies/

I am taking PineScript Commissions ✔ https://www.fiverr.com/share/EgzQd0

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out