Crypto Daily – The entire cryptocurrency sector is on the verge of breaking out. Bitcoin (), the undisputed king, has just broken out of its 7-month long bull flag, and the rest of crypto looks as though it’s about to follow. With huge waves of global liquidity about to enter the monetary system, crypto is likely to be in its element.
Cryptocurrencies about to follow Bitcoin
Things certainly aren’t signed and sealed yet, but the combined market capitalization of crypto is at the top of a bull flag, and if Bitcoin is successful in breaking out of its own bull flag, the rest of crypto has great potential to follow suit.
The weekly time frame chart for the Crypto Total Market Cap shows that not only is the combined market cap of crypto up against the $2.3 trillion resistance, but also just below the 0.618 Fibonacci level at $2.33 trillion, and more importantly, just below the top trend line of a bull flag.
