Cryptocurrency
Head and Shoulders On Cryptocurrency Market Cap Foretells Retest of Lows
As reported by NewsBTC, “The total cryptocurrency market cap can oftentimes provide clues as to where Bitcoin and altcoins could be headed in the short-term. “The latest price action is exhibiting a pattern that looks structurally similar to a head and shoulders, which if valid and confirmed would suggest Bitcoin and the rest of the crypto market […]
As reported by NewsBTC, “The total cryptocurrency market cap can oftentimes provide clues as to where Bitcoin and altcoins could be headed in the short-term.
“The latest price action is exhibiting a pattern that looks structurally similar to a head and shoulders, which if valid and confirmed would suggest Bitcoin and the rest of the crypto market will make another retest of lows.
“The coronavirus hasn’t just killed thousands, frozen humanity, and devastated the economy, it’s also sent financial markets into a tailspin, including the world of cryptocurrencies like Bitcoin, Ethereum, and the hundreds upon hundreds of altcoins that make up the market.