Market's Leading Indicator is Total MarketCap Chart. It clearly shows a Breakdown below 200 Daily MA & EMA. We can still bounce back btween today & tomorrow and reclaim the Moving Averages as support. However looking at the Price Action & Support / Resistance Levels for Total MarketCap, we anticipate a further 14-15% Drop from current levels across the board for entire market before we can see a reliable bottom in place.
The Next Major Support for Total MarketCap is around 178-182 Billion Area
If that Level holds for Total MarketCap we are looking at Bitcoin to drop towards 6900-7200 Area. Which is the mid point of our suggested Buy Range of 6400-7600 Area.We do expect an almost instant reversal back above 200 Billion MarketCap Levels.
We will remove the Stop Loss for our 7400-7600 Entry and adding 6900-7200 as a potential LONG Zone. If you are running a large cap fund, this is where you want to enter Crypto Markets for quickfire returns
The Next Major Support for Total MarketCap is around 178-182 Billion Area
If that Level holds for Total MarketCap we are looking at Bitcoin to drop towards 6900-7200 Area. Which is the mid point of our suggested Buy Range of 6400-7600 Area.We do expect an almost instant reversal back above 200 Billion MarketCap Levels.
We will remove the Stop Loss for our 7400-7600 Entry and adding 6900-7200 as a potential LONG Zone. If you are running a large cap fund, this is where you want to enter Crypto Markets for quickfire returns
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