Welcome to this quick update, everyone.
The total mark cap has broken out of the downtrend channel and is currently trying to retest the level.
In my previous chart, I said we need a close above that blue MA line though I expected some early rejections it broke out at once!
We also got a breakout above the downtrend channel after exactly 90 days of consolidation.
I expected a little more sideways action and consolidation previously but the breakout on 4th Feb changed everything.
What are the possible scenarios right now?
Well, keeping in mind this is not a fakeout, we are likely to continue the rally to retest
46K and $53k in BTC but before that, the red zone is needed to be retested for a healthy and sustainable rally throughout the market. This retest could result in some pullbacks in altcoins and BTC ($38.8k to 
41K) followed by a 15% rally in BTC.
That will be the best time to enter the market.
ALTCOINS will follow BTC.
This is not financial advice, these are all my own views as per the chart.
What's your thought on this?
Do hit the like button and share your views in the comment section.
Thank you
#PEACE
The total mark cap has broken out of the downtrend channel and is currently trying to retest the level.
In my previous chart, I said we need a close above that blue MA line though I expected some early rejections it broke out at once!
We also got a breakout above the downtrend channel after exactly 90 days of consolidation.
I expected a little more sideways action and consolidation previously but the breakout on 4th Feb changed everything.
What are the possible scenarios right now?
Well, keeping in mind this is not a fakeout, we are likely to continue the rally to retest
46K and $53k in BTC but before that, the red zone is needed to be retested for a healthy and sustainable rally throughout the market. This retest could result in some pullbacks in altcoins and BTC ($38.8k to 41K) followed by a 15% rally in BTC.That will be the best time to enter the market.
ALTCOINS will follow BTC.
This is not financial advice, these are all my own views as per the chart.
What's your thought on this?
Do hit the like button and share your views in the comment section.
Thank you
#PEACE
Trade active
This is how it looks in ltf.
The right shoulder of this inverse head and shoulders pattern is yet to be complete, giving us an opportunity to get in at cheaper prices.
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Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
Disclaimer
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Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
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.