Cyrpto Market About To Bullcross: 50 & 100 Week MA
Atualizado
Similar to Altcoin dominance looking bullish, the crypto market total capitalization is close to it's two year long resistance downtrend line, with a 50 & 100 Week MA bull-cross anticipated in a week or two, as well as on a Green 3 TD Sequential. I'm skeptical this can be broken this week, but if there is continuing rising volume, it's becomes trade worthy (2.1 reward/risk).
A close above the resistance trend-line, with the Green 3 above the Green 2 would be a case for a move to the previous swing high around 332B. Breaking below 210B would likely lead to a fall to the recently created support trend-line at 200B. CMF is positive and rising, MACD is bull-crossing this week, waiting for RSI to break above resistance level around 55 and into bullish territory >60.
Altcoin Dominance Eyeing Up A Breakout to 40% (January 2020)
Altcoin Speculation Coming Soon... (October 2019)
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)
A close above the resistance trend-line, with the Green 3 above the Green 2 would be a case for a move to the previous swing high around 332B. Breaking below 210B would likely lead to a fall to the recently created support trend-line at 200B. CMF is positive and rising, MACD is bull-crossing this week, waiting for RSI to break above resistance level around 55 and into bullish territory >60.
Altcoin Dominance Eyeing Up A Breakout to 40% (January 2020)
Altcoin Speculation Coming Soon... (October 2019)
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)
Nota
As a recent reminder, Bitcoin's 50 & 100 Week MA bull-cross was confirmed on December 16th at $7112 before rallying 28%.Nota
For more info on this TI Sequential indicator, see here:tonevays.com/indicator
Trade ativo
While there is still a high probablity of a pull-back, there is also a high probability of further upside before this pullback that could lead to much higher highs than the anticipated lows.Therefore, on a reward/risk basis of 2:1 and given the Weekly MA support nearby, trades were activated. I now believe the crypto market to of broken out of it's 2 year-long downtrend.
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