Total Market Cap battling 0.702 FIB
Updated
It is clear that TMC has been battling the TMC ever since it tested the 50D SMA back in Sep 7th. A retest for the 50D SMA seems in the cards at 0.618 FIB level in the coming days, could be very much this weekend. That would be a 7% drop to 2 trillion for the total market cap. This would translate to the Alts averaging a 15% drop, while BTC drops 7% to 10% which would be the bottom of the daily BB and the weekly 21 EMA.
Assuming the 0.618 holds then the market should move north from there.
Assuming the 0.618 holds then the market should move north from there.
Trade closed: target reached
As expected, the market reacted and the overdue correction met the FIB levels as BTC touched the 21W EMA along the way.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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