Waiting can be boring but many times it’s the best we can do… Alts Market Cap failed to bounce and dipped quite hardly after testing the Daily 200MA. Nonetheless, this dip doesn’t mean we go down from here, probably many Stop Losses got triggered and at this point almost all long leveraged position are liquidated (non-existent) providing less fuel for Bears.

Daily Alts Market Cap

What Bulls want to see now is a strong support like previously mentioned. If we hold here for two or more weeks it means Bulls are finally in control and they will catch any lower low without hesitation (like some already did with this one).

Historically we already saw something quite similar when the previous Bull Market Started…

Weekly Alts Market Cap
Categories: Analysis