Be careful in early September, the crypto market will continue to experience correction. Let's Review!
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Enjoy the weekend, all Steemians, and as we know, on weekends the crypto market usually moves slowly or is not volatile.
However, since it's still early September, it's a good idea to take a look at the general crypto market as a whole.
There are things that need to be watched out for this month, bearing in mind that the potential for crypto to be corrected even lower is very possible.
We can see in the picture above that overall crypto capitalization continues to decline after reaching its highest point in the supply area on July 12.
At the moment, I am very wary of accumulating on the crypto market.
We can see with the naked eye that capitalization continues to decline in areas of demand.
If capitalization is in demand, I will reconsider trying to accumulate some crypto tokens.
Or I will also take a buy position in the derivatives market for the long term.
However, at this time, my view is only to go short on the crypto market, especially the derivatives market.
Yes, as we have known in recent months, the FED's decisions have an influence on the prices of all assets, including crypto.
This is reinforced by the strengthening of the USD as a currency that is widely used throughout the world.
This means that a strong increase in the USD will have a negative effect on the market, especially the crypto market.
Imagine that around the world, many large financial institutions are holding USD at the moment, and they tend to release some of their assets to the market.
Of course, this has a big impact on the main crypto market, and as you can see in the discussion above, I stated that crypto accumulation and capitalization are currently still negative.
At the moment, I am actually in a position to short the crypto market.
There is one position that I shot last night, and now it is making a profit, namely the TRX/USD position.
You can see the reason I shorted the market in the picture below, and this is in accordance with the material I reviewed regarding market structure.
Moreover, the main reason why I aim for a short market position is as stated in the review above.
Conclusion |
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By knowing the crypto market capitalization and also the USD capitalization.
Of course, it will give us an initial idea of how the market is running.
Under current conditions, the market is in a negative phase.
This reminds us of last year's conditions in September, when market conditions were also negative.
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nice post dude.
Setelah beberapa waktu lalu bahas USDT yang beredar. Sekarang kapitalisasi market kripto.
Lanjut!
hehehe
cari topik yang sesuai niche aja kim 😁
Dear @gitshock.trading ,
We appreciate your active participation and contributions to our community. To ensure a positive environment for all members, we have implemented a set of guidelines to maintain respectful and constructive discussions while upholding community guidelines.
You have given your analysis on the cryptomarket but may I ask, what currency pair is this?
As you are anticipating a sell, others are anticipating a buy, I wish you all the best
Now Engage, Connect, and Inspire Each Other to Reach New heights.
Thank You.
This is the total USDT as well as the total capitalization. You just look for TOTAL and USDT.D.
You can check in TradingView; there is data there.
For trading pairs, in the analysis above, it is TRX/USDT.