Total crypto cap weekly not looking good
Breakdown from a multi-month rising wedge, weekly candle about to close in 6 hours. I suspect that it might retest the rising wedge or just keep going down to the two targets below.
This analysis is just based on the pattern. Since the wedge is on the weekly, it holds weight. There are contraindicating signals in the market. Luna absorbed this week's drop and made ATH. ETH absorbed the dump as well. ETHBTC and ETH.d broke up from a long term range and might go up further. Maybe we will see a mini alts season as BTC works it way up as BTC.d is dropping. But the market is still in danger.
This analysis is just based on the pattern. Since the wedge is on the weekly, it holds weight. There are contraindicating signals in the market. Luna absorbed this week's drop and made ATH. ETH absorbed the dump as well. ETHBTC and ETH.d broke up from a long term range and might go up further. Maybe we will see a mini alts season as BTC works it way up as BTC.d is dropping. But the market is still in danger.
Note
wicked into target
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.