For me most important, at the moment is the price trend supported by the capitalization of the Crypto Market.
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Much is being said about the Golden Cross,
daily chart, which is happening in Bitcoin right now. And the Dead Cross, weekly chart, which is about to take place.
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But what you have to keep in mind is that you should see the price trend
%2012.34.30.png)
Do you see in this graph an upward or downward trend?
We have broken a 433-day downtrend line and that is important.
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The Golden Cross confirms that the price trend in the medium and long term is Bullish.
There is an 80% probability that the price floor has already occurred in Bitcoin.
Could there be a correction from 23,000 in the short term? It is very likely because it has happened before in other Golden Crosses but the medium-term trend remains bullish.
Total Capitalization in Crypto Market
The capitalization indicates the invested capital, an important figure shows the maturity of the market. One Trillion is currently a number that gives potential investors more confidence.
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If we analyze the graph we see that much has not changed in the last few weeks to continue upwards next target 1.07 T
Must hold 1Q dollar market to not see Bitcoin start a major price correction.
S&P 500
After breaking a downtrend line, it remains with an uptrend, marking a higher high than the previous one.
%2012.11.41.png)
That does not mean that we can see a correction that supports the price in the trend line that broke previously.
The correlation that Bitcoin maintains with the S&P 500 is important in the last month
That the correlation will be lost in the future, surely it will be so, let's hope it will be with a rising Bitcoin price.
Conclusion
Many indicators in recent months have indicated the confirmation of the bitcoin floor price, for me the Golden Cross is another indicator that confirms that the Bitcoin floor price has been left behind.
What do you think?
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
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