CRYPTO TOTAL MARKET CAP (BULLISH IDEA)
Hello Avid reader,
I would like to share my take on the possible scenario for the Crypto Market.
1 - The market has been in consolidation phase for the past 4 months, creating a Typical Bull-Flag pattern.
2 - As you can see that the lows of the channel have been tested 4 times, but the selling pressure got absorbed on each test, signaling a Strong reversal.
3 - The mid of the channel (represented by dotted white line) precisely provided resistance / support to the PA in all the previous moves which is clearly visible on the chart. But the thing which I would like to highlight here, is that this time, the Price, very comfortably broke through the mid-zone and re-tested it as Support.
4 - There is a BISI (Buy-Side Imbalance & Sell-side inefficiency) highlighted by the green box. The PA might indulge this zone to grab un-touched Liquidity.
5 - USDT's Dominance is weakening and has formed a Bear-Flag pattern.https://www.tradingview.com/x/qijDKQjt/
Areas of interest are market on the chart.
6 - In Summary, I expect the Crypto Market cap to rise significantly in the upcoming weeks, especially in Q4 2024 & subsequently, in Q1 2025. We are likely to face some resistance in the 2.5 T to 2.55 T area, as highlighted in the red box. Thereafter, 2.7 T and 3 T would be my areas of interest for selling.
Thanks.
I would like to share my take on the possible scenario for the Crypto Market.
1 - The market has been in consolidation phase for the past 4 months, creating a Typical Bull-Flag pattern.
2 - As you can see that the lows of the channel have been tested 4 times, but the selling pressure got absorbed on each test, signaling a Strong reversal.
3 - The mid of the channel (represented by dotted white line) precisely provided resistance / support to the PA in all the previous moves which is clearly visible on the chart. But the thing which I would like to highlight here, is that this time, the Price, very comfortably broke through the mid-zone and re-tested it as Support.
4 - There is a BISI (Buy-Side Imbalance & Sell-side inefficiency) highlighted by the green box. The PA might indulge this zone to grab un-touched Liquidity.
5 - USDT's Dominance is weakening and has formed a Bear-Flag pattern.https://www.tradingview.com/x/qijDKQjt/
Areas of interest are market on the chart.
6 - In Summary, I expect the Crypto Market cap to rise significantly in the upcoming weeks, especially in Q4 2024 & subsequently, in Q1 2025. We are likely to face some resistance in the 2.5 T to 2.55 T area, as highlighted in the red box. Thereafter, 2.7 T and 3 T would be my areas of interest for selling.
Thanks.
Nota
Lovely.PA following the plan :)
Mitigated BISI and bounced from exactly the Mid of our Channel.
We are on our way to 2.5T.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.