$2.6 Trillion
Since early March, The overall crypto market cap has been testing and rejecting the $2.6 Trillion MC region.
Again in the last day we have seen this act as a strong resistance.
Also note, in the 2021 bull run, the highest monthly candle close was $2.62 Trillion.
Before listened to hype on YT or square focus on simple facts that are right infront of you, we are near a very clear and strong level of resistance.
Firstly to even start confirming a new bull run we need a few daily candle closes above $2.6T.
No matter what anyone says the facts are until that resistance is broken and maintained, no new bull run has started.
All we are seeing currently is retail moving around from one project to the next trying to fomo in because they believe we are about to go parabolic, the crypto MC has not confirmed anything.
It is never a great idea entering a trade when it is about to test a clear resistance, if we go above $2.6T(daily close) it is very likely we will re test it again as it has been a long term resistance zone, if this happens and $2.6T becomes support that will be a strong sign of further moves upwards for crypto.
The Crypto MC is not going to go from $2.5-$3T in a day, you are not going to miss the bus by understanding larger Macro analysis.
To go above $3T from here, we need $500 Billion more injected into Crypto.
For reference,
Coca Cola $270 Billion MC
Pepsico $ 230 Billion MC
= $500 Billion.
Peace