Hi traders, investors and speculators
it’s here. Been trading cryptocurrencies since 2017 and later into stocks. I took 3 board exams in financial markets and studied economics for a year at a top university. Day job – math teacher.
The Total Cryptocurrency Market Cap chart, or TOTAL, is very useful for identifying the macro trends that most (not all) cryptocurrencies will follow – bullish or bearish. It is natural to say that if the U.S. dollar (DXY) continues to strengthen, investors will be more likely to sell dollar investments. When DXY is at its highest level and the investment market is at its lowest, funds are transferred from the US dollar back into the investment market to buy stocks and cryptocurrencies at cheaper prices. This also means that now is a great time to accumulate your favorite crypto. Note that this doesn’t mean the market can’t go lower, it absolutely can. However, trying to catch the exact bottom often leaves you at a loss. It’s often here where traders try to hop on the moving train (trying to buy when prices keep rising).
Currently, DXY still seems to have another push to the next resistance zone:
The cryptocurrency market may continue to fall until DXY cools off. I will be watching the correlation between these two markets closely, while expecting stochastic mid-cap and small-cap altcoins to rally.
Here are 3 altcoins I am accumulating for the next bullish cycle or altcoin bull run 2023:
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0X Simplified Chinese version:Analyze macro trends with TOTAL MarketCap and DXY
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