Crypto Total Market Cap Monthly Chart
Here is my Elliott Wave analysis of the total crypto market cap on the monthly chart.
I believe that we are currently within an Impulsive Wave 5 and I'm projecting that it will reach its target at an approximate 7T market cap in Nov 2025. Further explanation of the chart below:
- The Corrective Wave 2 which corresponds with the Bear Market from Jan 2018 to Dec 2018 took ~334 days.
- The Impulsive Wave 3 which corresponds with the Bull Market from Dec 2018 to Nov 2021 took ~ 1066 days. The 0.618 golden ratio served as heavy resistance and the price was rejected from this level. It then retested the yellow line as critical support followed by consolidating within the yellow box before breaking out of the 0.618 resistance a few months after the Bitcoin Halving in May 2020.
- The Corrective Wave 4 which corresponds with the Bear Market from Nov 2021 to Dec 2022 took ~395 days. We can clearly see this as a fractal when compared to the Corrective Wave 2 Bear Market which took ~334 days!
- The Impulsive Wave 5 which corresponds with the current Bull Market from Dec 2022, I predict will be a fractal of the Impulsive Wave 3 Bull Market. We can see for example that price is rejecting from the 0.618 golden ratio. I predict that price will likely come back to retest the yellow line as critical support followed by consolidating within the yellow box and then finally breaking out of the 0.618 resistance a few months after the upcoming Bitcoin Halving in April. I also predict that this Impulsive Wave 5 will take ~1066 days and end in Nov 2025 confirming the fractal of Impulsive Wave 3 which also took ~1066 days.
Happy trading! :)
I believe that we are currently within an Impulsive Wave 5 and I'm projecting that it will reach its target at an approximate 7T market cap in Nov 2025. Further explanation of the chart below:
- The Corrective Wave 2 which corresponds with the Bear Market from Jan 2018 to Dec 2018 took ~334 days.
- The Impulsive Wave 3 which corresponds with the Bull Market from Dec 2018 to Nov 2021 took ~ 1066 days. The 0.618 golden ratio served as heavy resistance and the price was rejected from this level. It then retested the yellow line as critical support followed by consolidating within the yellow box before breaking out of the 0.618 resistance a few months after the Bitcoin Halving in May 2020.
- The Corrective Wave 4 which corresponds with the Bear Market from Nov 2021 to Dec 2022 took ~395 days. We can clearly see this as a fractal when compared to the Corrective Wave 2 Bear Market which took ~334 days!
- The Impulsive Wave 5 which corresponds with the current Bull Market from Dec 2022, I predict will be a fractal of the Impulsive Wave 3 Bull Market. We can see for example that price is rejecting from the 0.618 golden ratio. I predict that price will likely come back to retest the yellow line as critical support followed by consolidating within the yellow box and then finally breaking out of the 0.618 resistance a few months after the upcoming Bitcoin Halving in April. I also predict that this Impulsive Wave 5 will take ~1066 days and end in Nov 2025 confirming the fractal of Impulsive Wave 3 which also took ~1066 days.
Happy trading! :)
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.