In the search for something to say about Bitcoin (BTC), we took a look at total crypto market cap (TOTAL). At $250 billion, there is a tremendous horizontal resistance at that level. That is going to make it hard for Bitcoin to go any higher without an active bullish catalyst.
This resistance is not a bummer. It just may mean alts, particularly smaller alts, may start taking off.
Bottom Line: The resistance for Bitcoin (BTC) is more significant than we thought. $250 billion in total crypto market cap looks like a brick wall. Since Bitcoin is not backing off, we are naturally staying positive. We think the upside action may lie elsewhere in the crypto space.
This resistance is not a bummer. It just may mean alts, particularly smaller alts, may start taking off.
Bottom Line: The resistance for Bitcoin (BTC) is more significant than we thought. $250 billion in total crypto market cap looks like a brick wall. Since Bitcoin is not backing off, we are naturally staying positive. We think the upside action may lie elsewhere in the crypto space.
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.