TOTAL2 Food for the Bulls - Dip being boughtThis is a great pullback to catch if you are looking to buy in to one of your favourite altcoins
All of them (basically) on sale!
I have been patiently adding myself
There has already been one bullish rejection along 2618 I expect another to follow, allowing the market to continue pushing new highs
TOTAL2
A Trillion dollar washout…Total cryptocurrency market: -39%
Bitcoin: -43%
Total cryptocurrency market excluding Bitcoin:-41%
CRYPTOCAP:ETH
These numbers show, whole cryptocurrency market is in deep trouble.
I believe cryptocurrency market need more than a trillion dollars to gets back to its previous levels!
The most probable case is more than 95% of +4000 cryptocurrencies out there will become worthless (zero in value) in the next 3 to 5 years less than 1% will survive the next 10 years!
Don’t forget as soon as prices getting a little higher there will be many people ready to cut their loss or exit offset!
Currently I’m searching to find the next bubble! What could be the next? Those who find the answer, will be the winners of the next decade..!
CRYPTO WEEKLY #19 (2021)The crypto market is up for a rough week with Bitcoin in a downtrend, the majority (if not all) of the market will go through pain in the coming week. It is to be seen where we can expect a temporary bottom for BTC but if we don't find one above 42K, the market is going for a correction.
Currently we already see a head and shoulders on the total market cap without BTC and its trading on support inside the wedge. When we decisively breakdown from the wedge; I believe we will test support at the 1 trillion dollar supply zone and if that doesn't hold - we go for sub trillion levels of which the red target zone is the most likely one. Buy opportunities will come once we find a local bottom...
We could see some more fake out behavior to the upside or (even better) see money move from Bitcoin to the other coins and BTC becoming less relevant in the time to come... However this will take some time. A bullish scenario for (certain) alts is definitely not excluded yet however the risk / reward ratio for the market as a whole is unsatisfactory at time of writing.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
BTC/USDT (Saved by 3D 50MA Support?)💎Technical Analysis Summary💎
BTC/USDT
-My last BTC update was still trading in a small range around 55k-58k dollars
-The bitcoin bears won the game after breaking its local support at 53k dollars
-The price touches the 3D 50 moving average and the price reacted with a strong push-up
-I think the bitcoin bulls defended this important moving average like history on September 2020
-We may see a temporary bounce to retest the downward resistance at 55k dollars
-If the bulls can clear the resistance above, the chances to continue the trend higher increases
-But if another rejection will happen, a major support retest is likely to happen again
-And if that bearish scenario plays out, the bulls will be in trouble in the coming weeks
-I'm expecting a sideways action inside this triangle pattern until June
-This would be a good chance for the Altcoin to bounce up if they are holding at key support
-Please exercise proper risk management because the game is starting to look difficult
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Alts MCAP (TOTAL2) AnalysisWe are either looking at a nasty rejection continuation
Or a double bottom formation and a break of this trendline that has been continually tested (3 times)
Personally the bear scenario sounds more logical to me, yet this is crypto so I accounted for both sides.
The 200MA (yellow line) wont hold if this breaks down. FYI
poor crypto noobsBitcoin is the system 2.0 and everybody is getting baited into it. Can u see it, the prison you are building for yourself?
Monero is fundamentally a more valuable asset than Bitcoin, solely because of protocol level privacy.
You can act like individual privacy isn't a pillar of freedom and equality on earth, you will only expose your deficient understanding of the cypherpunk ethos that did give birth to the Bitcoin you pretend to love so dearly.
Market will remain wrong until 1XMR = 1BTC