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The Things To Look For (TOTAL Crypto Market Cap)

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Here's a quick video simply about the long term trend for the cryptocurrency market. Short and simple.

This is not financial advice. Just some observations and things I'm paying attention to at the moment for an indication of direction. This is for speculative and educational purposes only.

-Victor Cobra

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Testing the long term trend yet again:

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If we break down here, I think we could fall immediately to $179-180B (next horizontal support and bottom of bearish channel. This would align with my "slower growth" scenario, but it would be ugly. Impatient bulls down't want this to happen, but there are some patient bulls who do. We'll see who wins.

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There is no moving average support below here for alts, so the ideal bullish scenario would be that a break below the trendline is short-lived and quickly bought.

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Bitcoin is now back in the bearish channel (as I described shouldn't happen in this video, for the bullish scenario). Things are still looking better for bulls than they were last week, but we should be very careful here.

TOTAL is also in the bearish channel again

TOTAL2 looks much more indecisive, with powerful wicks on either side. What we want to see is these candles remain neutral (bulls will need to hold current levels) OR we'll need to break and hold above the bearish channels before weekly close.