Total and Altcoin Market Cap Technical Analysis
CRYPTOCAP has surged over 11% in the last four days. TOTAL has gone from $251B to $281 Bn, bouncing from a key ascending support in the daily timeframe. 1D candles are clearly showing that investors found attractiveness in entering the game around the $9K BTC level, pushing the market out of the weekly losses. As a secondary factor, BTC candles have closed above the 13EMA on the 3day setup, which may be another sign that the market is gaining momentum once again.
BTC Dominance, on the other hand, increased significantly this week. BTC.D is now around 67%, possibly moving towards the previous high at 68.50. If the BTC weekly candle closes bullish engulfing, then traders may expect dominance to spike even further. Surprisingly, Altcoin Market Cap has not suffered as much as expected, with TOTAL2 consolidated around the $90Mn level.
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