Mihai_Iacob

Crypto market- Bye-Bye happiness?

Short
CRYPTOCAP:TOTAL   Crypto Total Market Cap, $
All December was one of consolidation and, in my opinion, distribution, not accumulation, in the Crypto market.
Since the 4th of December's low around 2T, we have a rebound of around 20% but looks more like a dead cat's rally than an impulsive buying move.
Technically speaking, 2.4 zone is resistance and if we look at the daily posted chart we can see that rallies above that zone are sold and we have wicks on candles suggesting indecision and a bearish bias.
Of course, these days the market's liquidity is very thin, but a break under 2.3 would suggest an important lower top and call for further losses.
The first level of support is at 2T recent low, but I wouldn't be surprised if the market will fall to 1.75.
At this moment, I don't own any coins, and my speculative interests are in selling.



🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.