Battle Planing: Basic charting on Total 2 Total2 has been chopping sideways for two months and has gotten a tad boring. Individual coins have done some pump and dumps but the net market cap is sideways. In short order, and by that I mean in the next 2-4 weeks Total two will be at a decision point where it will begin to resolve itself bullishly or bearishly and I hope to be prepared either way.
My main inclination is the black upward sloping trend line will continue to hold except for wicks here and there. If that is to be the case then the price action will have to beat the downward sloping resistance line it is now under. So we are at a IF THEN type situation were we can do some scenarios for both upside and downside. The chart says a lot so I won't repeat myself too much.
Bullish Resolution We see price action act out an ascending triangle. There are potential for throwbacks, under performance, and all that, but the eventual targets are the 1.618 and 2 levels on the drawn fib. And it doens't help that according to Bulkowski, triangles are some of the easiest formations to spot but actually the worst to reach target.
Bearish resolution Price falls to around the 0 fib line. If that were to happen I would see Total2 devolve into a double top type formation. In traditional markets double tops have tops around 5% off in value but for crypto I feel justified in letting that go a little higher. Source? I made it up.
If price resolves bearishly it will be long term very bad news.
