For the ninth consecutive week, the crypto markets have been consolidating above the lows they achieved last December, why might this week of trading be different ?? Has the upcoming boarding trip really begun ??

The market value of digital currencies during the long correction trip in 2018 fell from levels of $ 800 billion until it reached close to $ 120 billion, according to the famous Crypto Market website, to lose more than 90 % Of its market value. Yesterday, we started to notice a positive rise on the digital currencies after Bitcoin’s return near the level of 4,000 points, and many currencies recorded a mixed rise from 5% to 20%

In the previous and unique chart, we highlight this point of identification, through the market value index on the Trading View platform, the following technical points can be observed

- We have been walking in the descending channel since May 2018 and are very close to the resistance level and also from the upper limit of this channel, which is according to the index reading at $ 145 billion, This means that we need a rise equivalent to 20% of current prices in order to actually start optimistic that we formed a low in December (as I personally believe)

<- dir = "RTL" style = "text-align: justify;"> - The important point in this chart is the RSI index values ​​that have reached 70 and this level we have not reached since last May's top, so this week it may look different, and this rise Current Al-Walid may carry good news.

- We also notice consistent increases in trading volumes since last December, with the MACD indicator in a positive crossover situation and the RSI in a good position of strength.

All these indications make us believe that perhaps with God's help we may witness a different start soon

Going back to the technical outlook on some of the leading currencies

bitcoin

Ascending bitcoin yesterday and surpassed $ 3870 levels, then reaching the 4,000 point barrier, it breaks through the lower bound of the declining trend line resistance of the price channel, and the important and prospect is to return above $ 4,200 to gain more bullish momentum

Important resistors: 4200, 5800, 7400, 9900, 11700

Invitation ...