Welcome to this quick Sunday update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures.
Let's get to the chart. This is the total crypto market cap chart. It's very important to follow this chart in order to understand the overall trend of the crypto market. W have seen almost third consecutive bullish candle for BTC in weekly. IMHO BTC needs some pullback including many other altcoins too.
I've said this before No one got rekt by taking profits. Although there's a chance that BTC could hit the 48k straight that won't be sustained for long.
In this chart, the mcap is hitting the most important resistance level. If this resistance is broken and we get a daily close above the 1.84 trillion resistance (the red zone) It's highly likely we will hit the 48k -49k level on or before 15th Aug 2021 in BTC. The whole market will pump together. The support remains from 1.53 to 1.67 trillion.
What's your thought on this? Do hit the like button if you like this Analysis and share your views in the comment section. It takes a lot of time and attention to create this educational content for you all to understand the market and take your trades wisely with the right information! Hit that follow button if you haven't yet.