Conflicting Signals: The Big Difference Between Bitcoin And Crypto Charts

2023-3-2 03:43

Recent comments from SEC chair Gary Gensler suggest that Bitcoin is the only crypto asset that isn’t a security. Yet for whatever reason, the TOTAL crypto market cap chart is giving a bullish signal, while the BTCUSD chart remains decidedly bearish. 

Let’s take a closer look at these conflicting signals firing across the crypto market and what it could possibly mean. 

50/50: Breaking Down The Bearish Or Bullish Signals

Last night, the February monthly candle came to a close, providing fresh data for technical analysts to review. Technical indicators use the data in a their calculations, which are also updated the moment a new monthly candle opens on the chart. 

Upon scanning the monthly price charts of Bitcoin, Ethereum, and dozens of other cryptocurrencies, a noticeable discrepancy exists between the BTCUSD one-month chart and the TOTAL crypto market cap chart on the same timeframe. 

Turning on the 50-month moving average, Bitcoin closed its second month below the key resistance level. Meanwhile, the TOTAL crypto chart has spent the last two months above the same level. Price action holding above it could result in a sustained recovery. 

It isn’t just the 50-month moving average showing the conflicting signals. The BTCUSD monthly Ichimoku closed through the cloud, while the TOTAL crypto chart isn’t even near the cloud yet. 

Bitcoin, Not Crypto: A Rising Tide Lifts All Boats

The reason for the discrepancy in price charts is due to the strong performance in small cap altcoins. Many of these less liquid coins have pushed well above their 50-month moving average, giving an edge to the TOTAL crypto chart. 

The TOTAL crypto market cap chart is an aggregate created by TradingView, pulling price data from thousands of crypto assets trading on the platform. The exact number of coins aggregated is unknown, and may or may not reflect the accurate size of the rapidly growing market. 

Bitcoin, on the other-hand is simply one asset, making its chart signals much more clear and actionable. The top cryptocurrency also has the ability to move the entire market, taking the wind out of any soaring altcoin rallies or saving them from the brink of extinction. 

Watching the Bitcoin chart for the all clear sign is a safer bet, but the TOTAL crypto market cap being a more sensitive aggregate of price action could provide an early taste of what’s to come. Will BTCUSD follow suit and strengthen the broader crypto recovery?

The tale of two charts: #Bitcoin below the 50-month MA, $TOTAL crypto above it. pic.twitter.com/bdGrkQ0axM

— Tony "The Bull" (@tonythebullBTC) March 2, 2023

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto bitcoin chart total market cap reason

Источник: bitcoinist.com

crypto bitcoin → Результатов: 126


Фото:

Crypto’s winners and losers: who’s cashing in on the Bitcoin boom?

The cryptocurrency world is awash in new wealth as Bitcoin’s record-breaking climb above $90,000 propels the total value of digital assets past a staggering $3.2 trillion. Forbes estimates that 11 of the top crypto billionaires, whose holdings are predominantly liquid tokens and stocks, have collectively added $38 billion to their fortunes in 2024. Remarkably, $24 […]

2024-11-20 14:48


Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today?

This is turning out to be a great week for crypto. Bitcoin price just broke past the $60K level for the first time this month. In fact, remember how everybody was saying September is historically bad for crypto? We’re almost halfway through the month, and this is, for now, a “green” month since the BTC […] The post Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today? appeared first on CaptainAltcoin.

2024-9-14 00:52


Ethereum Price Prediction: Crypto Expert Says ETH Is Yet To Bottom Against Bitcoin

A crypto analyst has predicted when Ethereum, the world’s second-largest cryptocurrency, will bottom against Bitcoin, however, under certain conditions.   Analyst Predicts ETH/BTC Bottom Timeline In a recent X (formerly Twitter) post, crypto analyst and founder of ITC Crypto, Benjamin Cowen, shared his forecast regarding the Ethereum to Bitcoin price ratio, projecting the timeline for when ETH/BTC would hit its lowest value in the current market cycle.

2024-5-1 00:00


Samourai Wallet founders’ arrests are ‘a wake up call for crypto’ — Bitcoin pioneer Amir Taaki opines

Bitcoin pioneer Amir Taaki responded to US charges against privacy wallet Samourai & its developers, stating the action reveals that the state targets crypto innovators. The post Samourai Wallet founders’ arrests are ‘a wake up call for crypto’ — Bitcoin pioneer Amir Taaki opines appeared first on Crypto Briefing.

2024-4-29 20:08


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Is The Crypto Market About To Go Supernova?

The total crypto market capitalization (TOTAL on TradingView) chart is showing signs that volatility could dramatically expand after dropping to historic lows. This tightening of volatility often precedes massive breakouts.