Altcoin Whales

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💡 Is the Crypto Market Setting Up for a Repeat of 2019?

Hey, everyone! 👋 I just analyzed the Crypto Total Market Cap chart, and I found some intriguing patterns that could influence our trading strategies.

📉 Weekly Timeframe Insight: The 2024 price action appears to be forming a downward channel, reminiscent of 2019, when Bitcoin started to climb after a similar decline. Many OGs remember the failed rally coinciding with the COVID outbreak in China, which led to significant market shifts.

🔍 Key Levels to Watch:
• $2.5 Trillion: This level acts as crucial resistance and mirrors the failed rally point from 2020.
• $1.0 Trillion: Potential surprise support if the market turns unexpectedly.
• 200-week Moving Average: Currently acting as a strong support line; we might see brief spikes below it during volatility.

🤔 Questions for You:
• Are we heading towards a failed rally similar to 2019, or could we set new all-time highs?
• What external factors might influence the market?

💡 Remember, the crypto market can be unpredictable! Protect your capital and manage risks—consider risking no more than 1% of your capital per trade.

If you found this analysis helpful, please drop a like and share your thoughts below! Let’s discuss! 🔥

https://www.tradingview.com/chart/TOTAL/8cC1BuPn-CRYPTO-MARKET-CAP-NEARS-200W-MA-PRE-CRASH-VIBES/

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TradingView

CRYPTO MARKET CAP NEARS 200W MA! PRE-CRASH VIBES? for CRYPTOCAP:TOTAL by ArShevelev — TradingView

Hello, fellow traders! Today, I'd like to share an intriguing analysis of the Crypto Total Market Cap chart, highlighting potential areas of reversal and target zones that could shape the market's direction in the coming months.


By examining different timeframes…

www.tgoop.com/altcoinwhales/10851

409 viewsArtem, Sep 24 at 17:24

💡 Is the Crypto Market Setting Up for a Repeat of 2019?

Hey, everyone! 👋 I just analyzed the Crypto Total Market Cap chart, and I found some intriguing patterns that could influence our trading strategies.

📉 Weekly Timeframe Insight: The 2024 price action appears to be forming a downward channel, reminiscent of 2019, when Bitcoin started to climb after a similar decline. Many OGs remember the failed rally coinciding with the COVID outbreak in China, which led to significant market shifts.

🔍 Key Levels to Watch:
• $2.5 Trillion: This level acts as crucial resistance and mirrors the failed rally point from 2020.
• $1.0 Trillion: Potential surprise support if the market turns unexpectedly.
• 200-week Moving Average: Currently acting as a strong support line; we might see brief spikes below it during volatility.

🤔 Questions for You:
• Are we heading towards a failed rally similar to 2019, or could we set new all-time highs?
• What external factors might influence the market?

💡 Remember, the crypto market can be unpredictable! Protect your capital and manage risks—consider risking no more than 1% of your capital per trade.

If you found this analysis helpful, please drop a like and share your thoughts below! Let’s discuss! 🔥

https://www.tradingview.com/chart/TOTAL/8cC1BuPn-CRYPTO-MARKET-CAP-NEARS-200W-MA-PRE-CRASH-VIBES/