Sometimes even the most correlated markets can get out of sync. And often, one asset within the space can offer a better perspective than most others.
We’re going to discuss both today.
I’ll share a chart that I believe offers the best perspective of the crypto market today. It may even provide an early warning sign if things go astray.
We’ll finish up with a few charts, including a textbook structure on the Harmony chart.
Let’s get to it!
Some Markets Lead, Others Follow
Cryptos are highly correlated to one another. There’s no denying that. And the majority of altcoins follow Bitcoin 99% of the time.
However, that doesn’t mean the Bitcoin chart is always leading the way.
It’s possible to identify a “leading market” where the technicals are ahead of the pack. A perfect example is how VET and ADA were breaking down on Wednesday before most other markets.
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