In this episode of NewsBTC’s daily technical analysis videos, we take a look at the total cryptocurrency market capitalization, Bitcoin being so boring. We also compare past crypto winters to see when the deep freeze might end.

Take a look at the video below:

VIDEO: Total Crypto Market Cap Analysis (TOTAL): October 12, 2022

There is not much new to report. Bitcoin and other cryptocurrencies continue to move mostly sideways as the market awaits the release of CPI data tomorrow at 8:30 a.m. ET.

Why Crypto Winter 2022 Looks Like the Bear Market of 2015

Just like Bitcoin, there is a slow confrontation to take control of the daily momentum, according to the LMACD. On weekly timeframes, Bitcoin only turned bullish last week, while the overall crypto market cap has been bullish for several months now.

Comparing the LMACD between past bear market lows shows that the indicator behaves more similarly to the bear market low of 2014 and 2015. In 2018 and 2019, the price action rose sharply and the indicator has followed.

Sideways momentum could mean many more months of pain | Source: TOTAL on

Total Cryptocurrency Fractal Shows Possible Insight Into Price Action

The price action in each box drawn is eerily similar. Taking the bars pattern to place a fractal on the current price action, the setup is virtually the same. If the total crypto market follows a similar trajectory, a strong breakout attempt will ultimately fail and lead to a double bottom formation.

Since the fractal projects the price action forward, activating the Ichimoku indicator which also looks ahead, predicts potential resistance where the fractal would interact.


Will the downtrend reach its conclusion this week?

However, it is unclear if this is indeed the cryptocurrency low, and no one knows if the market will behave like the last two lows. If not, and the crypto continues to decline, the move could begin this week.

The TD Sequential Market Timing Tool triggered a TD9 buy setup. However, the series is only perfected when the 9 candle reaches a lower low. Note how the 9 candles passed on the way down lit up red and resulted in a deep descent. While this is possible, the TD9 setup is also a possible turning point where the bulls could regain control.