#Gate.ioDaily

Market Update:

The global cryptocurrency market cap today is around 1.49 trillion and the total cryptocurrency volume is around 218 billion.

Crypto currency market cap dropped to 813 Billion from an all time high of over 1 Trillion. Also it's forming a heads and shoulder pattern. If this heads and shoulder pattern breaks then next support is at 600 Billion.

In addition, indicators like RSI and macd are also bearish. Further volume is also decreasing which is a bearish sign.

Bitcoin also trading around @31,600. MACD cross is still bearish at big time frame. Now next support is around @28K. If BTC would break this support then next support around @26K.

On a Macro time frame Bitcoin still go downside around @20K in upcoming months to touch the previous ATH.