And now, my fellow crypto lovers, I'd like to draw your attention to the star of this analysis — the MACD! As you can see, the has formed three low troughs. However, each low trough has been higher than the last. BTC , on the other hand, has continued to trend lower. This is a massive , and a possible clue to a major reversal. With that said, like all analysis, it is conditional. We need to watch the , and the price action closely. Specifically, we don't want to see the break the rising green dotted , and we definitely don't want to see it make a lower low. People have been pressuring me to produce a reversal signal, and this is something that could POTENTIALLY be a signal of a bottom forming. Keep in mind though, if the is broken, it would be negated as a potential reversal signal. We can see that a crossover is impending on the , confirming the return of the buy-side pressure. Additionally, many of my downside targets
In summary, the bulls are posting some strong recovery , as they fight for control of the market. There is a massive on the . There is a crossover on the . The bulls have pushed BTC back into the , and BTC has practically made a full correction to my downside target.
In a stark contrast, the cryptocurrency market capitalization chart tells another story. There is no denying, that it looks like a bubble that has just ruptured, and is in the midst of complete implosion. The bottom of THAT chart, appears to be miles lower.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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