Crypto Market Cap 33% Retracement Ahead
Total #Crypto Market Cap Monthly Chart.
Plenty of room to the downside... if using previous cycle, about another -33% before bottoming out after MA 6 crosses below MA 18.
Last time was >55% retracement after crossing.
Puts #Bitcoin at approx $20k from current $30k.
Given broader headwinds with inflation and tightening money supply via QT... lower than $20k is entirely within probabilities.
Plenty of room to the downside... if using previous cycle, about another -33% before bottoming out after MA 6 crosses below MA 18.
Last time was >55% retracement after crossing.
Puts #Bitcoin at approx $20k from current $30k.
Given broader headwinds with inflation and tightening money supply via QT... lower than $20k is entirely within probabilities.
