The mood of the crypto market shifted from “a new bear market started” to “long live the bull market” in a matter of weeks.

Looking at the big picture of the crypto market capitalization starting from the bottom in March 2020, things become clearer. The excessive euphoria that grew during the first months of 2021 needed a reset. The RSI captured this general weakness precisely, with lower highs diverging from higher highs during the market trend.

It was easy to confuse the large crash in May with the beginning of a prolonged downtrend period. But as the market rebounded exactly at the bottom of the upward trend, investors and traders found the confidence to turn bullish once again.

The rebound also occurred at the 61.8% Fibonnaci level, enhancing the importance of that area as strong support in the future. In the short term, 23.6% is the first support in case of a pullback. Consolidation in the green box would be beneficial for the long-term development of the trend. Should Bitcoin cool off below $50,000, that could be a good opportunity for Altcoins to have their moment of glory .

Accumulating on dips and scalping long strategies are still the best way to capitalize on the current market condition. The trend is always your friend, after all!

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Those that joined the cryptocurrency space a few years ago may remember the first puzzle they faced.

Where should I buy cryptocurrencies? Hacks, scams, downtimes, and poor user experience were a real pain. Those that recently started their crypto-journey don’t have as much to worry about. Prominent players gained a solid reputation for offering safe and easy options.

Coinbase is undoubtedly one of them, and yesterday they offered cryptocurrencies a privileged spotlight when they got listed on the NASDAQ, a US stock exchange. Crypto officially meets Wallstreet.

In 2020, Institutional investors made news announcing their interest in cryptocurrencies, and now the traditional financial market values one of the main crypto-players at $100 billion. At such a high valuation, the total market capitalization of all cryptocurrencies ( Bitcoin included!) all of a sudden seems cheap.

Looking at the chart of the total crypto market, it’s clear how things are heating up. Prices have been rising steadily since March 2020 on growing volume . The smaller channel, starting from February, now looks like a consolidation after the sharp gains in January that led valuations to double.

A new breakout here would signal a new wave of likely stronger FOMO. But watch out to manage your risk and gradually take profit on the way up. The faster the growth, the more the downside risk will increase!

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