Crypto Total Market Cap Update;
The total market cap has been moving non stop towards the 1.264T level as discussed previously when we had a breakout from the 945-955B levels.
Thanks to BTC, there was no stopping for the Total Mkt cap until now.
However I feel we might face some resistance here at the 1.26T- 1.27T region.
A sweep above the level with acceptance below this level on a HTF confirms a bearish signal and I’ll look for some bearish setups on overbought tokens.
Whereas if we pushed the price above this key level and were successful in holding it, I sense a continuation of the move towards a new ATH for the whole Crypto Market Cap.
I personally feel it won’t be that easy.
High Funding rates, BTC greed and fear Index at peak (86 highest greed level in past 2 years), Total Market Cap facing resistance, my previous marked levels(75-80k) for BTC approaching, euphoria developing amongst retail and alot of other factors too.
Mind you, I am not being bearish, I just believe we have a leg down before we start the real move towards 100K and above for BTC and an Alt season for the Alt-coins.
In any case, I will not buy into the resistance.
If it flips, holds and retest the level, I am willing to buy.
Otherwise I’d prefer accumulating at more reasonable prices below.
I hope that helps!
The total market cap has been moving non stop towards the 1.264T level as discussed previously when we had a breakout from the 945-955B levels.
Thanks to BTC, there was no stopping for the Total Mkt cap until now.
However I feel we might face some resistance here at the 1.26T- 1.27T region.
A sweep above the level with acceptance below this level on a HTF confirms a bearish signal and I’ll look for some bearish setups on overbought tokens.
Whereas if we pushed the price above this key level and were successful in holding it, I sense a continuation of the move towards a new ATH for the whole Crypto Market Cap.
I personally feel it won’t be that easy.
High Funding rates, BTC greed and fear Index at peak (86 highest greed level in past 2 years), Total Market Cap facing resistance, my previous marked levels(75-80k) for BTC approaching, euphoria developing amongst retail and alot of other factors too.
Mind you, I am not being bearish, I just believe we have a leg down before we start the real move towards 100K and above for BTC and an Alt season for the Alt-coins.
In any case, I will not buy into the resistance.
If it flips, holds and retest the level, I am willing to buy.
Otherwise I’d prefer accumulating at more reasonable prices below.
I hope that helps!