Total Market Cap Excluding Top 10
The chart illustrates the Crypto Total Market Cap Excluding Top 10 (CRYPTOCAP) on a weekly timeframe, highlighting key patterns and potential market behavior:
Bullish Deliberation Block:
Two bullish deliberation blocks are marked (indicated by blue arrows), where the price consolidated after a strong upward move, showing indecision in sustaining bullish momentum.
These blocks often precede significant market reversals at higher levels.
Historical Pattern Suggesting Weakness:
Previous instances of similar bullish deliberation zones were followed by sharp declines, signaling that the current structure may repeat a historical bearish pattern.
The weakening buy interest aligns with a possible exhaustion of bullish momentum.
Third Wave Bearish Starting Point:
The chart suggests the potential onset of a 3rd bearish wave in a larger corrective structure.
This aligns with the marked decline zone, indicating a strategic sell point for traders anticipating a downward move.
Bullish Deliberation Block:
Two bullish deliberation blocks are marked (indicated by blue arrows), where the price consolidated after a strong upward move, showing indecision in sustaining bullish momentum.
These blocks often precede significant market reversals at higher levels.
Historical Pattern Suggesting Weakness:
Previous instances of similar bullish deliberation zones were followed by sharp declines, signaling that the current structure may repeat a historical bearish pattern.
The weakening buy interest aligns with a possible exhaustion of bullish momentum.
Third Wave Bearish Starting Point:
The chart suggests the potential onset of a 3rd bearish wave in a larger corrective structure.
This aligns with the marked decline zone, indicating a strategic sell point for traders anticipating a downward move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.