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Totalcryptomarket

CRYPTO TOTAL MARKET CAP (Y20.P5.E2).What does it tell us?Hi All, I thought I take a look at the total crypto market chart and see if it gives us any clues to what's next. Observations: > Previous all time high in 2017, where BTC was 19800 (depending on the exchange) had a bigger market cap than now; > When BTC was at its ATH, BTC dominance was at its lowest? Opposite of today, so far; > BTC dominance seems to have a strong resistance around 68% level on a few occasions; > BTC dominance in 2019 made ALT (prior to 2016 there weren't many coins on the market), above 68% and ranged for a while, while BTC did a distribution structure; > Current BTC dominance is at 67.35% > On the chart, I have the weekly levels of the candle stick (body) resistance levels, total market cap did not hit target because of this drop; > As you can see, the BTC dominance historically has another level of resistance 72.8% which which occurred twice, but we don't know the relationship based on the chart; > MACD on the weekly total market cap is still bullish with upward pressure, however its a delayed indicator; This weekly closure could tell us if we are to have that big pullback; THOUGHTS or CONCLUSION: The total market cap is still falling short from the previous high, so much of the hype on BTC price doesn't really be backed by the total market cap, even though we have much more coins and much more maturity in the crypto space, the market cap could be a indication as to where the major resistance is, not the price of BTC or but the market cap ATH mark or the weekly resistance. For now, the red line of the weekly resistance could be the level where BTC might find resistance and have that pullback or at the all time high, double top resistance level on the total market cap. BTC dominance is likely to have a rejection or ALT season when it reaches 68% level or like previous times, at 72.86% That's what I'm taking away from this TA and keeping an eye out for. All the best traders, Regards, S.SAri PS. Yesterday I posted some observations with the general market and how BTC drop was in sync with the general market drop. Until we see it go up, or sideways, BTC will be in uncertainty territory.
CRYPTOCAP:TOTAL
by ssari
Total Market Crypto Cap - Head and shoulders + Triangle warning- Overall total market cap is not looking good right now - We can see this head and shoulders and also the descending triangle - 2 bearish patterns! - I expect lower prices, also as you can see, we finished our Impulse Elliott Wave - You can profit by this crash easily, just use futures market and enter a short position - I recommend SNX coin for example If you want more of these ideas, please hit the like button and follow me, so you don't miss any update! Also, check my signature down below ↓
CRYPTOCAP:TOTALShort
by UnknownUnicorn2537518
7
CRYPTO TOTAL MARKET CAP - Breakout retest? Most of the breakthroughs are ultimately fake breakthroughs, which means that the market is not actually moving in the direction of the break and is simply trapped by professional traders to lure traders to break in the wrong direction. Using confirming price action on a retest also provides you with a great place to “hide” your stop loss. As you may well know, you always want to place your stop loss at a level where the setup is invalidated if hit. Waiting for confirming price action gives you the perfect opportunity to do just that. When a bullish or bearish pin bar forms on a retest, you can use the tail of the pin bar as your invalidation level. In other words, if the market moves past the tail the setup is no longer valid.
CRYPTOCAP:TOTALLong
by CryptoNinjaAnalyst
Possible movements of the total crypto market valueIf you look at the chart, the crypto market value made a bullish rally until the first quarter of 2018. Afterwards, market value; suffered a decline. The first bullish wave acted in a half curve pattern. In the downtrend, we see that it moves in a smaller size curve pattern. The chart now faces very strong resistance; however, a strong rise may come when it crosses this resistance area. If this chart breaks up, it will also break the long-term bull pattern up. This situation may lead to an increase in the market in the medium and long term. Possible movements are shown by the arrow. The direction is up unless the market value is closed weekly below the small curve pattern.
CRYPTOCAP:TOTAL
by TraderMikabot