In this episode of NewsBTC’s daily technical analysis videos, we are looking at the total cryptocurrency market cap with Bitcoin being so boring. We also compare past crypto winters to see when the deep freeze might end. Take a look at the video below: VIDEO: Total Crypto Market Cap Analysis (TOTAL): October 12, 2022 There isn’t all that much new to report. Bitcoin and other cryptocurrencies continue to move mostly sideways, as the market awaits the CPI data release tomorrow at 8:30AM ET. Related Reading: The End of Bitcoin Woes? BTCUSD Analysis October 11, 2022 Why Crypto Winter 2022 Resembles 2015 Bear Market Much like Bitcoin, there is a slow moving showdown to gain control over daily momentum, according to the LMACD. On weekly timeframes, Bitcoin only just turned bullish last week, while the total crypto market cap has been bullish for several months now. Comparing the LMACD across past bear market bottoms shows that the indicator is behaving more similarly to the 2014 and 2015 bear market bottom. In 2018 and 2019, price action turned up sharply instead and the indicator followed.   Sideways momentum could mean many more months of pain | Source: TOTAL on TradingView.com Total Cryptocurrency Fractal Shows Possible Price Action Preview The price action in each drawn box is eerily similar. Taking the bars pattern to place a fractal over current price action, the setup is practically the same. If the total crypto market follows a similar trajectory, a strong breakout attempt will ultimately fail and lead to a double bottom formation. Since the fractal projects price action forward, turning on the Ichimoku indicator which also looks into the future, is forecasting potential resistance right where the fractal would interact. Will crypto winter remain until the cloud is broken? | Source: TOTAL on TradingView.com Related Reading: Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022 Will The Downtrend Come To A Conclusion This Week? However, there is no telling if this is indeed the bottom in cryptocurrencies, nor does anyone know if the market will behave like the last two bottoms. If not, and crypto continues down, the move could start this week. The TD Sequential market timing tool has triggered a TD9 buy setup. However, the series is perfected only when the 9 candle makes a lower low. Note how past 9 candles on the way down lit up red and resulted in a deep move down. While this is possible, the TD9 setup is also a possible turning point where bulls could regain control. A TD9 buy setup has appeared on weekly timeframes | Source: TOTAL on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
Grafico Azioni EOS (COIN:EOSUSD)
Storico
Da Dic 2022 a Gen 2023 Clicca qui per i Grafici di EOS
Grafico Azioni EOS (COIN:EOSUSD)
Storico
Da Gen 2022 a Gen 2023 Clicca qui per i Grafici di EOS