Crypto Asset Class Poised for Massive Rally, Technical Market Breadth Suggests
Jamie Coutts CMT, CFTe
Chief Crypto Analyst @ Real Vision | Digital Asset Thought Leader | Built the Digital Asset Research Product @ Bloomberg Intelligence
Everything is ripping, even Dinocoins. Lets put the performance into a technical perspective using breadth measures.
The advance/decline line, one of the most reliable technical indicators in traditional finance, has broken its downtrend line after providing a bullish signal in late September. This type of technical breakout historically precedes substantial market moves.
The number of top #crypto mkt cap assets > 200-day SMA is 80%.
The last time crypto breadth was this bullish, this was the broad-based performance;
In my Sept report for @realvision Pro-Crypto members, I discussed how the market had likely bottomed using these and other technical breadth indicators featured regularly in our research (excerpts below).
There will be many 30-60% pullbacks along the way, but by the end of this cycle, the total market cap is likely to be somewhere in the vicinity of $5T-$10T.
See my previous post on projected market values.
Sept Report for Pro-Crypto subscribers "Bull Market Correction”:
September was the low capitulation, and it showed up in the breadth indicators.
#crypto #cryptocurrency #blockchain #digitalassets