The Crypto Market Is Resilient, Nicholas Merten Says

The crypto market managed to bounce back and analyst Nicholas Merten has some important things to say about the subject.

He recently explained that Bitcoin (BTC) and the crypto markets are still flashing signs of bullishness despite ongoing geopolitical tensions.

He said that he’s looking at the price action of the TOTAL chart, which tracks the valuation of the entire crypto markets.

As the online publication the Daily Hodl notes, the deep retracements over the past year, Merten highlights that the valuation of all crypto assets continues to print bullish higher low setups.

“When we take a look at total market cap, we can see here that since back in January (2021) we’ve been seeing a consistent general range where buyers have come in here on prices, taking them to consider important lows before the rebound back here in July into September, back here in January of 2021 before we spring up here to $65,000.”

He continued and said:

“Now, we’ve been seeing buyers come here yet again like they did here in the latter part of January (2022), buying up prices around this $1.5 trillion valuation range for the entire crypto market.”

Important trader Tone Vays outlines what needs to take shape for leading digital asset Bitcoin (BTC) to flip bullish. The crypto markets continue to react to global geopolitical instability.

In a new strategy session, the analyst said that the top crypto asset by market cap has seen a three-month period where it continues to establish both lower highs and lower lows.

Vays says that BTC’s course won’t reverse until its weekly chart gets above both its short-term moving average and the previous high which has been set by the last Bitcoin rally on February 10th.

There are all kinds of optimistic predictions about the price of the king coin despite the recent corrections in the market.