Altcoin market cap still being upper bounded by 155B
No denying the fact that we could be seeing a double top forming here but if we assume that we are now in a bull run/leg , we could see this double top attempt fail soon.
First sign I am looking for is a WEEKLY CLOSE above 155 billion as market seems to still be giving this level ample amount of respect. The last 3 candles (including current one) have attempted to break this level but no success yet. I always look for the 3rd attempt as an all important attempt in breakout setups so let's see if the bulls can manage to break 155 level this time around.
First sign I am looking for is a WEEKLY CLOSE above 155 billion as market seems to still be giving this level ample amount of respect. The last 3 candles (including current one) have attempted to break this level but no success yet. I always look for the 3rd attempt as an all important attempt in breakout setups so let's see if the bulls can manage to break 155 level this time around.
Comment:
Market still closed the week below 155 billion. Next weekly bar will be telling on the near term direction of the market. More sideways? Reversal? Continuation? We shall see.
