After reaching 2.05T market cap from its all-time-high of 4.27T – more than half of its ATH – the crypto markets may be beginning to bottom out.

This coincides with its behaviour in 2022, where the crypto market cap fell from 3T to ~750B and began drifting sideways.

A clear technical indication for this setup to reoccur is as follows:

• Candle closes outside of the Weekly 50 EMA band (1sd).
• Stochastic RSI crossing up.

Today, we’re getting a similar setup. The candles are outside of the bands, and the weekly stochastic RSI is in the process of crossing up – should we end the week positively.

Key message here is: Crypto Market Cap is beginning to base out. Bitcoin may go sideways or even drift lower, but farther targets like 30K or 16K as…