Trading Discerniments about the Total Coin Market: Follow-up of the plan
As explained in ''Masturbations'' (or Trading Discerniments) about the Total Coin Market: are we able to ''read'' the market? , let's see if we can "read" the movements of the "Monster" aka, the whole Market:
This is the evolution right now since December 20th:
As forecasted in the previous post, the "Monster" is playing with an Upper and a Lower lines, the so-called Resistance and Support.
- Two days ago the situation was:
- Today the situation is:
So, the "Monster" has clearly rebounded on the sketched Resistance Line by "D" at 458B$ and is now going steadily to find some support downwards.
Hope the monster will find that support before reaching the red-dashed line I draw because if it rebounds on E it will mean to be below the 200B$ of total capitalization.
Nevertheless, I wonder if maybe the Red-Dashed Upper Resistance is our best reference to declare a consistent end of the correction...
If so, we just need to see a strong breakage of that line!
Enjoy Cryptoland!!!!
I think once people in the United States start receiving tax refunds we will see some new money coming into the crypto market. Even though the US isn't the largest driver of the crypto market, it could make a difference. Tax refund season is just starting and people who are getting money back (instead of owing the govt money) will start receiving what is owed to them in mid February and it will last through April.
Just a thought. I don't want to have to watch the market cap drop to 200 Billion....but if it does I'll be buying pretty heavily like I was with STEEM back in September and October.
That's the spirit
Hello, @toofasteddie. How I can contact with you? I have a small deal for you) Nice analysis for crypto)
Good thinking. From Chinese new year into US tax refunds. A rollercoaster heading upwards? :)
So, we haven't reached the bottom yet? In the last day the trend is positive if I am not mistaken...
We need more volume. Seems that now is getting some impulse, will see if it is able cross the upper- resistance :-)
@cryptokeepr's prediction could bring this volume.
Kill the bears!!!
I would prefer a flash crash of the market instead of a slow fall. I mean, a crash until the resistance, right now.
I wasn't expecting @beiker predictions -in which there would be a bear market for the first months in 2018- to become a reality, but finally that's what it is happening.
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Wow greate article!
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