They're all coming together: small caps preparing another dump
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TOTAL2, enjoy!
This is a fact: a crisis (which is the result of something changing the world) hasn't started yet, even if on March 12th a big selloff took place. Now, this is relevant in general; now let me introduce you to this chart as the youngest part of the world market: this is the total market cap of cryptocurrencies market but Bitcoin, whose market cap still doubles this.
A lot of buyers came in after the dump, but net volume is still below zero: as a result alts price recovered a lot (more than btc). And this is clearly visible on the chart, which is literally a raw sum of all the buyers' money. Another fact is that this market cap necessarily has to grow on yearly base because most coins are still being mined or staked and if you increase the number of coins while market cap isn't rising, then their price will go down to nothing; market cap must keep the yearly trend, otherwise the whole market would die out.
But now let's move on a more technical analysis: on weekly value only tested the weaker trendline from a descending parallel channel which is stuck in: further bearishness would be confirmed by another run-down to that line. On daily it tested pre-dump trendline just like a bump and run reversal; indeed this is only a crypto feeling, because most indexes (spx, dji, ndaq ...) are far away from their levels. 0.382 fibo level is now resisting, while run-up has already lost its initial momentum. Many simple moving averages death crosses are still pending, but they are since the dump and don't really have a meaning (means are commonly used to predict price movements, but they're laggings!); either EMAs do. It is perhaps very bearish that value has tested twice weighted moving average 200 level but could never manage to break it out. Then it is far inside the ichimoku cloud resistance, but couldn't afford an attempt for a breakout; that's bearish and if this level doesn't hold through May 6th (not so likely) a dump will occur. Fisher transform trend is retreating while price is rising: bearish divergence incoming. Bearish divergence which is already visible on chaikin, money flow, relative strength index and stochastic. Either did awesome, which still states a nice trend. There are more sellers then buyers at this level for most of coins, so market cap couldn't break up.
I tend to believe that most traders are now greedy, don't know why, so I bet a bearish scenario is more probable. World market will collapse and so crypto will.
Trade safe and stay at home. Anlvis
TOTAL2, enjoy!This is a fact: a crisis (which is the result of something changing the world) hasn't started yet, even if on March 12th a big selloff took place. Now, this is relevant in general; now let me introduce you to this chart as the youngest part of the world market: this is the total market cap of cryptocurrencies market but Bitcoin, whose market cap still doubles this.
A lot of buyers came in after the dump, but net volume is still below zero: as a result alts price recovered a lot (more than btc). And this is clearly visible on the chart, which is literally a raw sum of all the buyers' money. Another fact is that this market cap necessarily has to grow on yearly base because most coins are still being mined or staked and if you increase the number of coins while market cap isn't rising, then their price will go down to nothing; market cap must keep the yearly trend, otherwise the whole market would die out.
But now let's move on a more technical analysis: on weekly value only tested the weaker trendline from a descending parallel channel which is stuck in: further bearishness would be confirmed by another run-down to that line. On daily it tested pre-dump trendline just like a bump and run reversal; indeed this is only a crypto feeling, because most indexes (spx, dji, ndaq ...) are far away from their levels. 0.382 fibo level is now resisting, while run-up has already lost its initial momentum. Many simple moving averages death crosses are still pending, but they are since the dump and don't really have a meaning (means are commonly used to predict price movements, but they're laggings!); either EMAs do. It is perhaps very bearish that value has tested twice weighted moving average 200 level but could never manage to break it out. Then it is far inside the ichimoku cloud resistance, but couldn't afford an attempt for a breakout; that's bearish and if this level doesn't hold through May 6th (not so likely) a dump will occur. Fisher transform trend is retreating while price is rising: bearish divergence incoming. Bearish divergence which is already visible on chaikin, money flow, relative strength index and stochastic. Either did awesome, which still states a nice trend. There are more sellers then buyers at this level for most of coins, so market cap couldn't break up.
I tend to believe that most traders are now greedy, don't know why, so I bet a bearish scenario is more probable. World market will collapse and so crypto will.
Trade safe and stay at home. Anlvis
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