1. Total Market Cap (TOTALCAP):
TOTALCAP creates a bullish weekly candle.
Despite the bullish candle, the direction of the trend remains undetermined until TOTALCAP breaks through $1.17 trillion or breaks down to $1.03 trillion instead.
2. Bitcoin (BTC) Trades Below $29,800 Resistance Area
Similar to TOTALCAP, Bitcoin price created a bullish candle last week (green icon) ending the previous drop that started in April. However, BTC is still trading below the key resistance area at $29,800.
Whether BTC price breaks through the $29,800 level or gets rejected, the upcoming action will likely determine the future trend. In it, a breakout can lead to a rally towards $33,000 while a breakdown can lead to a sharp drop.
#tradinginsight #trend #bitcoin #btc
