Crypto Total Market Cap. (Mixed W/ Bulls Favored)

5 באפר׳ 2020

The Crypto Total Market Cap chart (TOTAL) looks very similar to Bitcoin (BTCUSD), we have some mixed signals but the technicals are in favor of the bulls, let's take a look.

• Here we have prices for TOTAL above EMA10, which I consider to be a bullish signal.
  
• We have the "ascending triangle" pattern, which is also bullish.
  
• And both indicators, RSI and MACD, are looking good.
  

What happens next for TOTAL?

On a bullish breakout, we aim first at EMA300 or 219.807B, followed by the orange line at 262.700B.

EMA10 is now our immediate support.
If this level breaks (prices move and close below it), we can easily see a retrace (red arrow)... But we remain bullish expecting a bounce after the drop if this scenario comes to pass.

What's your take?

Will the crypto market drop before going up?
Share in the comments section below...

Thanks a lot for your continued support.

Namaste.