CRYPTO TOTAL MARKET CAP | Weekly Chart Analysis | Breakout in Progress
🔍 Let’s break down the crypto total market cap and highlight why the next move could be explosive.
⏳ Weekly Overview
The weekly chart shows a strong breakout above the consolidation box, following a classic fakeout to the downside. The 0.382 Fibonacci retracement level at $2.29T provided solid support, confirming the bullish structure and setting the stage for this move.
🔺 Bullish Scenario:
- The market faked out below the box, trapping bears, and is now breaking out above resistance.
- The breakout targets align with the Fibonacci extension, projecting a move toward the $5T region.
- This $5T target is not only a psychological level but also matches the next major Fibonacci confluence, adding further conviction to the bullish outlook.
📊 Key Highlights:
- 0.382 Fibonacci retracement ($2.29T) held as support during the fakeout.
- Breakout above the box signals renewed momentum and a shift in market sentiment.
- Upside target around $5T is supported by both the measured move and Fibonacci extensions.
- Previous resistance levels at $3.27T and $3.54T now act as support zones.
🚨 Conclusion:
Crypto is breaking out after a textbook fakeout and reclaim of the range. With confluence from Fibonacci targets and strong momentum, the $5T region is now firmly in play as the next major target. Watch for sustained closes above $3.54T to confirm the move and open the door for further upside
🔍 Let’s break down the crypto total market cap and highlight why the next move could be explosive.
⏳ Weekly Overview
The weekly chart shows a strong breakout above the consolidation box, following a classic fakeout to the downside. The 0.382 Fibonacci retracement level at $2.29T provided solid support, confirming the bullish structure and setting the stage for this move.
🔺 Bullish Scenario:
- The market faked out below the box, trapping bears, and is now breaking out above resistance.
- The breakout targets align with the Fibonacci extension, projecting a move toward the $5T region.
- This $5T target is not only a psychological level but also matches the next major Fibonacci confluence, adding further conviction to the bullish outlook.
📊 Key Highlights:
- 0.382 Fibonacci retracement ($2.29T) held as support during the fakeout.
- Breakout above the box signals renewed momentum and a shift in market sentiment.
- Upside target around $5T is supported by both the measured move and Fibonacci extensions.
- Previous resistance levels at $3.27T and $3.54T now act as support zones.
🚨 Conclusion:
Crypto is breaking out after a textbook fakeout and reclaim of the range. With confluence from Fibonacci targets and strong momentum, the $5T region is now firmly in play as the next major target. Watch for sustained closes above $3.54T to confirm the move and open the door for further upside
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.