altcoin dip inbound?
Updated
today we have the total crypto makret cap w/o btc
first thing that stands out is the 1d jefe bear that has fromed showing bears with a bull trap and aiming to drove prices down and shed some money off the markets overall
the 1d chart also shows a db which will entice retail to think a market is bouncing giving way for a possible liquidation run for almost all alts as this pattern will be noticeable on most altcoins charts and sl and limit orders will be placed under creating a liquidity pool for bearish moves
the 3d open target was hit bun ran lower showing willingness to go futher to the downside
the 3d was unable to get to the open 3d candle that stated the bear move
on the opposite a swing low 3d is forming given a a sign of revovery i the 3d leg of the swing is broken then the down side move is confirmed
the 1w low is not at open also giving me bearsih biasness to 1.33t
on the opposite i see an 1w bull jefe setting up
the higher the tf the stronger the biasness toward price targets
with that being set im expecting a 5% decrease in alt coin market cap before running higher to end the week bullish if the low of the week comes in on tuesday or wednesday that would be a good sign that profit booking have taking place and price is ready to run
overall im expecting a bearish open of the week to cuase a sell off and cheap prices for buyers to come in and move the markets
first thing that stands out is the 1d jefe bear that has fromed showing bears with a bull trap and aiming to drove prices down and shed some money off the markets overall
the 1d chart also shows a db which will entice retail to think a market is bouncing giving way for a possible liquidation run for almost all alts as this pattern will be noticeable on most altcoins charts and sl and limit orders will be placed under creating a liquidity pool for bearish moves
the 3d open target was hit bun ran lower showing willingness to go futher to the downside
the 3d was unable to get to the open 3d candle that stated the bear move
on the opposite a swing low 3d is forming given a a sign of revovery i the 3d leg of the swing is broken then the down side move is confirmed
the 1w low is not at open also giving me bearsih biasness to 1.33t
on the opposite i see an 1w bull jefe setting up
the higher the tf the stronger the biasness toward price targets
with that being set im expecting a 5% decrease in alt coin market cap before running higher to end the week bullish if the low of the week comes in on tuesday or wednesday that would be a good sign that profit booking have taking place and price is ready to run
overall im expecting a bearish open of the week to cuase a sell off and cheap prices for buyers to come in and move the markets
Note
now that btc hit my 54k target i will expect more downside but a small bounce fore retail to leverage
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