Total market cap break-out

Crypto Total Market Cap formed a diamond pattern in 12H TF. This pattern has just been broken out.

CMF values had also broken out its trendline.

It's likely that the continuation is confirmed for Total Market Cap. The target woule be +5% the next days.

This 5% up is not much but would be very interesting when looking at the current position of Total Market Cap in 1W TF (see the below screenshot). Indeed, in weekly TF, prices has been consolidating right below the trendline resistance for 2 months and a half. A confirmed break-out of this resistance make the whole crypto market go up faster and may reach the next weekly ressitance (possibly +30% from here).

For a good risk management, we should not ignore fake breakouts of both diamond pattern (12H TF) and the trendline (1W TF).

I would appreciate if you could share your view and your sentiment about the next moves of crypto market?

Bình luận:

Successfully retested the diamond pattern, Total Market cap has been bouncing and found right under the weekly trendline. Closing above this ressistance at the end of this week, the next trendline (+30% from breaking point) is the target.