Total Crypto Market Capitalization
The market Cap of digital assets is still increasing in the past week even though there was some down swing.
The Crypto Total Market Cap index is at the same level as it was in July 2019, which is around 350. In terms of technical analysis, this is a resistance line framed by people’s mentality. Investors should closely monitor it because it’s actually a 175% increase from the last lowest point.
Crypto Top 10 Market Cap
Technical Signal Trading
In the past week, Bitcoin was setting down in the sixth zone. The price increased from the lastest average cost. If this situation occurs at the beginning, it’d be the bullish of BTC. However, as the price increased by 6 zones in a short time, investors should be more careful. It’s recommended that investors should buy it when the price hits the resistance line.
In the past week, ETH attempted to pass the upper resistance line. The resistance line was around 360 to 400, which is a range of 40 or 12%. From our views, investors should be more careful because the price consistently increased and many indicators are at the peak. We think that nothing is going to go up forever, at some points, it could go “Side way” or “Corrective way”.
XRP could pass the resistance line so it went back down a bit. However, this shouldn’t be a concern as it’s still in the same zone. We should wait to see the price action after this. If the price went below the current zone, Investors may consider downsizing the portfolio. However, if XRP can remain in the same zone and go beyond the average cost, investors can consider buying it for value.
After the False Breakout, LTC went beyond the resistance line and went back down to the same zone. Probably, this is because the overall market of digital assets is stuck in the same zone.
Bitcoin Cash Strategy
The movement of BCH is similar to that of LTC. However, the volatility of BCH is greater. It’s recommended that investors sell some BCH at the resistance line and save some of it, which should be closely monitored. If the price went down more than the resistance line, investors can sell all. The key thing is not to make the best profit in a short-term but to consistently make profit in a long-term.