anlayes

The market cap of cryptocurrencies (TOTAL) is caught between a bounce and a bearish scenario
#TOTALMARKETCAP
The weekly chart (1W) for the total crypto market cap shows a reality that demands caution. After peaking at 4.27T, we're now facing a continuous decline towards levels of 2.09T
#MyStocksQuestion

Technical analysis presents us with two paths, no middle ground
1️⃣ First scenario (bounce): If the price respects the ascending trendline (drawn in red) and bounces back upwards. This path suggests the beginning of a new momentum in the market.
2️⃣ Second scenario (breakdown and accumulation): If the price breaks and closes below the red trendline, the next target will be to move towards the major accumulation zone between 1.12T and 602B. This area is considered a strong buying structure in the long term.
The market bleeding continues, and the markets are unforgiving to those who don't stick to support and resistance zones. Caution and risk management are the key standards at this stage.
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