This Indicator May Take the Crypto Market on an Unprecedented Parabolic Rally

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[NEWS BLOG]: This Indicator May Take the Crypto Market on an Unprecedented Parabolic Rally

The crypto market has been caught within a firm uptrend throughout the past six weeks, with its cumulative rally being fueled by steady gains seen by Bitcoin, coupled with parabolic gains seen by many major altcoins.

Examples of this can be seen while looking at major cryptocurrencies like Tezos and Ethereum, which have both seen massive gains over the past several days that are emblematic of the type of rallies seen during full-fledged bull markets.

Now, one elusive indicator that has flashed before the crypto market’s previous parabolic uptrends is flashing again, suggesting that the markets could be on the cusp of seeing a 2017-esque movement in the months ahead.

Crypto Market Sees Intense Uptrend as Analysts Eye Further Gains.

It’s no secret that 2020 has been a great year for the crypto market, with Bitcoin’s climb from lows of $6,800 to highs of over $10,500 allowing the markets to see some intense momentum.

This uptrend has allowed the aggregated crypto market capitalization to balloon, rising from year-to-date lows of $185 billion to its current size of over $300 million.

The fact that this climb has come about as the result of money pouring into both Bitcoin and altcoins concurrently suggests that fresh capital is entering the markets, and that a fundamental shift in market structure is occuring.

Financial Survivalism, a prominent crypto analyst on Twitter, explained in a recent tweet that he anticipates altcoins to see further momentum due to bullish patterns that they have been widely forming as of late.

“Can’t help but salivate when looking at the Big W patterns that are taking shape in alts. Most haven’t confirmed yet but they are already very well defined. First entry occurs with a close above point D. Second entry occurs with a close above point A,” he said while pointing to a collection of charts seen below."

This Indicator Shows an Unprecedented Altcoin Rally is Around the Corner

One key factor that should be on the forefront of all investor’s minds is the fact that there was a 50/200 EMA golden cross on the aggregated crypto market cap, with Bitcoin being excluded.

This formation preceded the alt rally seen in 2017, suggesting that a major movement could be inbound.


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OTHER RELATED NEWS

Ripple (XRP) Price Down 2%, Bears Sight $0.2000 Or Even Lower

  • Ripple price is sliding and it is under pressure below the $0.2200 resistance against the US dollar.
  • The price is now trading below $0.2150 and it could decline further below $0.2100.
  • There is a crucial bearish trend line forming with resistance near $0.2180 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • There are high chances of a drop towards the $0.2020 and $0.2000 support levels.

Ripple price is declining steadily below key supports against the US Dollar and bitcoin. XRP price could continue to move down and the bears might target $0.2000.

Ripple Price Analysis

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Market Update: Bull Trap Warnings After Bitcoin Shoots Above $18k Handle

Digital asset markets have recaptured some of the losses taken three days ago, as a great majority of the crypto economy has started to rebound after the market rout. Bitcoin has climbed above the $18k handle once again and a myriad of crypto assets are up between 1-6% during the last 24 hours.

After dropping to a low of $16,300 per coin, bitcoin (BTC) has rebounded 11.3% to where the price stands today at $18,138 per unit. BTC is still up 33% for the last 30 days, 54% for the last 90 days, and 139% against USD for the last 12 months. - read more.

This Indicator May Take the Crypto Market on an Unprecedented Parabolic Rally

The crypto market has been caught within a firm uptrend throughout the past six weeks, with its cumulative rally being fueled by steady gains seen by Bitcoin, coupled with parabolic gains seen by many major altcoins.

Examples of this can be seen while looking at major cryptocurrencies like Tezos and Ethereum, which have both seen massive gains over the past several days that are emblematic of the type of rallies seen during full-fledged bull markets.

Now, one elusive indicator that has flashed before the crypto market’s previous parabolic uptrends is flashing again, suggesting that the markets could be on the - read more.

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