Total Market cap of all crypto is 270 Billion as Im looking at the chart on 2/6/20. We surpassed the previous resistance of 250 Billion on January 28th...and now our next resistance is at 300 Billion...but we are also forming a golden cross and looking back at history, when the previous golden cross occurred April 19th 2019 we went on a 130% upward tare in market cap from approximately 160 Billion to around 388 Billion....Bitcoin went from approximately 5200 to 13800 per coin during that time. It looks like a new golden cross is forming....could we make a similar jump upwards? I think we could, so many things are aligning. Upcoming halving + golden cross = huge potential
For you that don't understand what "golden Cross" means here is a quick explanation:
"In the trading world, a Golden Cross occurs when the 50 day moving average rises above its 200 day average. This is typically a telltale sign of bullish sentiment for a stock, reinforced by high trading volumes. Technical traders will often buy stocks in the moments following a Golden Cross and sell when the trend reverses into a Death Cross."
Remember trading is a risky businesses. Protect your capital at all times! It is a probability game, no amount if technical analysis make price movements a guarantee. Pick your spots, place your stop loss. Good luck!
For you that don't understand what "golden Cross" means here is a quick explanation:
"In the trading world, a Golden Cross occurs when the 50 day moving average rises above its 200 day average. This is typically a telltale sign of bullish sentiment for a stock, reinforced by high trading volumes. Technical traders will often buy stocks in the moments following a Golden Cross and sell when the trend reverses into a Death Cross."
Remember trading is a risky businesses. Protect your capital at all times! It is a probability game, no amount if technical analysis make price movements a guarantee. Pick your spots, place your stop loss. Good luck!