Some of the altcoins that experienced deep pullback yesterday, while still down, have retraced most of those losses and are in the green. 💚
The Total Market Cap itself is setting up for its highest close in 1.5 years.
Total Market Cap Daily Chart
Over the past seven days, the Total Market Cap chart has attempted to close at the $1.40 T mark five times, with today being the sixth. 6️⃣
If you’re a bull and you’re wondering if the bounce today is just a continuation of the prior up move, strong technical evidence suggests that that is the case.
The daily chart shows hidden bullish divergence between the candlesticks and oscillators (RSI and Composite Index).
Hidden bullish divergence is a condition where the price chart makes higher lows, but the oscillator(s) make lower lows. It’s only valid if the prior trend was up, which is the case for the Total Market Cap.
Does that mean wen lambo and mooooon are up next? No – but there’s a good probability of that happening. 🌑