This first part of the year was a good one for Crypto bulls with Total rising around 70% from the bottom to the top.
However, after the mid-April top, Crypto Total Market Cap has started to drop, and what, at first, looked like a normal correction is looking more and more like a reversal to the main bearish trend at this moment.
In favor of this outlook is the fact that yesterday Total lost an important level of support at 1.05-1.06 and this would suggest, at least technically, that this year's rise is no more than a correction, not a reversal.
At this moment, as said, the market is under 1.05-1.06 support which should provide resistance now and we could expect continuation to the downside in the next weeks.
In conclusion, I'm looking to sell rallies on major coins
However, after the mid-April top, Crypto Total Market Cap has started to drop, and what, at first, looked like a normal correction is looking more and more like a reversal to the main bearish trend at this moment.
In favor of this outlook is the fact that yesterday Total lost an important level of support at 1.05-1.06 and this would suggest, at least technically, that this year's rise is no more than a correction, not a reversal.
At this moment, as said, the market is under 1.05-1.06 support which should provide resistance now and we could expect continuation to the downside in the next weeks.
In conclusion, I'm looking to sell rallies on major coins
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.