Is the FALL in CRYPTO TOTAL MARKET CAP OVER??
Back to the Daily chart here...
FED day saw a POP up out of an ascending wedge on the 1 Hour chart to the Orange Pivot Line above (Answered the question of Bull Break or Bill Fake!) and was immediately pushed down right back to the red dashed lower channel line that has served as a significant dividing line between a bear or bull market.
Price is currently below ALL the MAs...so it seems we are still quite a way from establishing that a trend change to the upside has occurred...so the probability that a bottom is in place is low.
But with each new low, we're getting closer and closer, unless you believe the Crypto Market is over and everything will fall back to zero.....
Now that price has fallen even further from the red dashed lower channel line, the probability that price will fall to the green lower down channel line remains high.
If it makes it there, then the only question left will be does it end there or will it fall to the lowest orange pivot line area, the 61.8% total trading range Fib Retracement area before a trend change occurs.
Stay Tuned as the chart will ultimately reveal the answer!
But I suspect that like today, with the POP UP when the FED minutes were released and then an immediate pullback...
The opposite could happen when the next FED minutes are released in March....
Can you see it...a POP DOWN to finally finish this bear wave down and then immediately take off to start then next bull wave up?
A LOT will happen between now and then...best of luck!
Thanks for all the AGREEDS, LIKES and NEW FOLLOWERS!
Appreciate all of you ~~
FED day saw a POP up out of an ascending wedge on the 1 Hour chart to the Orange Pivot Line above (Answered the question of Bull Break or Bill Fake!) and was immediately pushed down right back to the red dashed lower channel line that has served as a significant dividing line between a bear or bull market.
Price is currently below ALL the MAs...so it seems we are still quite a way from establishing that a trend change to the upside has occurred...so the probability that a bottom is in place is low.
But with each new low, we're getting closer and closer, unless you believe the Crypto Market is over and everything will fall back to zero.....
Now that price has fallen even further from the red dashed lower channel line, the probability that price will fall to the green lower down channel line remains high.
If it makes it there, then the only question left will be does it end there or will it fall to the lowest orange pivot line area, the 61.8% total trading range Fib Retracement area before a trend change occurs.
Stay Tuned as the chart will ultimately reveal the answer!
But I suspect that like today, with the POP UP when the FED minutes were released and then an immediate pullback...
The opposite could happen when the next FED minutes are released in March....
Can you see it...a POP DOWN to finally finish this bear wave down and then immediately take off to start then next bull wave up?
A LOT will happen between now and then...best of luck!
Thanks for all the AGREEDS, LIKES and NEW FOLLOWERS!
Appreciate all of you ~~
