TOTAL - Sooner or Later, The Bulls Would Take Over!Hello TradingView Family, this is Richard.
I usually keep an eye on TOTAL to get a feeling about the overall crypto market bias. Just like I keep an eye on DXY when it comes to Forex.
As per my last TOTAL analysis, we are still bearish trading inside the red channel.
WEEKLY: Technically we are trading inside that big brown channel, and we are currently in a correction phase after rejecting the upper bound / brown trendline and 3T round number.
DAILY: After breaking below the head and shoulders neckline, marked in gray, the bears took over and TOTAL started trading inside the red channel, making lower highs and lower lows.
That being said, we know that we are overall bearish , but what are the possible scenarios?
Scenario 1: Projection in Blue
A sudden shift in momentum, by an aggressive movement from here to break above the current last high.
Scenario 2: Projection in Purple
TOTAL trades lower to test the support again and forms a new swing high around the upper red trendline. Then the bulls would take over by breaking above that new high.
Which scenario do you think is more likely to happen? and Why?
All Strategies Are Good; If Managed Properly!
~Rich
Marketcap
BItcoin 4H Analysis🟢 In a 4hour time frame bitcoin have successfully broken down the Double Top neckline whereas also support Key level marked as NECKLINE and retested out below the zone level
An Order block can be seen at the level of 39k$ to 37k$ whereas the volume profile shows the low volume around we might see the price there as well.
Use the appropriate loss limit for your trades, which has a very high possibility of emotional movement in the market.
⚠ This Analysis will be updated.
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Amir Hossein
📅 02.20.2022
⚠️ (DYOR)
USDT.D Daily Analysis🟢USDT's dominance bounced from the uptrend line support to form a twin floor pattern and is now above the neckline of this pattern, which also acts as a support. If the retest is successful, it is expected to move upwards, which will be a sign of decline for the market because the USDT and BTC dominance are inversely related to each other.
Use the appropriate loss limit for your trades, which has a very high possibility of emotional movement in the market.
⚠ This Analysis will be updated.
Amir Hossein
📅 02.19.2022
⚠️ (DYOR)
ETH market cap forming a bullish pattern? Hello traders,
Man, there is just bearish news after bearish news it seems lately, I mean, WW3 amirite? Well, the geopolitical mess aside, I firmly believe that this run is not only not over but, far from it.
This ascending triangle that is possibly forming on Ethereum market cap coincides with this theory. If we get more buyers coming into the market pushing the market cap to breakout of the top resistance line in betting we will have a nice big old pump in our future.
Let me know your thoughts in the comments!
Savvy
total market cap chart here is the TMC chart we see here that we should NOT break the yellows line if we want to go to the moon. for now I think we going to have regulars flat ( continuing pattern ) but first we going down to touch the below line at ( 1.928 ) first them ( 1.916 ) after that we ready to fly to get more money for our currencies to increase. again please god i hope not touching the yellows line.
IS THIS BULL MARKET OVER ? Not yet here's what you need to know!I'll just keep it short,
USDT.D is hitting the long-term resistance around 4.87.
Break above and close above this level means the beginning of the bear market which will eventually lead to the break below the 30k level.
Whereas, rejection could take BTC to $43k+ level again.
$35k also happens to be monthly support which makes it quite important.
if BTC manages to hold $35k by Jan month's close the cycle will stay intact.
Currently, there's too much manipulation in the market and things are still uncertain.
This chart is the best indicator for the market direction.
Better use it in HTF.
Rejection is the key to new ATH, less likely but still possible as long as BTC is trading above $28k to $32k area.
What to do?
Wait for the right time.
We have been sitting aside and waiting for the right time to trade since BTC broke below $53k.
This decision helped us to save a lot of funds.
Your priority should be to protect your funds and avoid leveraging here.
My message to you will be to relax and Don't stress too much about money
Try to get engaged in things you love, it could be going on vacations, trekking, learning some new hobbies, hitting the gym.
Just take your time and don't give up!
Thanks for reading.
🔥 USDT Dominance Signals Bullish Reversal SoonThe USDT dominance chart is not a chart I see on TradingView that often. However, it offers good insights whether investors are selling their crypto for USDT, or spending their USDT to buy crypto. Generally, when USDT.D goes up, crypto prices go down. When USDT.D goes down, crypto prices go up.
Since the start of this bull-cycle, USDT.D has been trading in a clearly defined horizontal channel. Once USDT.D reaches the resistance area, the (local) bottom has either been reached or is very close. Once USDT.D reaches the support area, the top is either in or very close. I've marked the last four major moves on the chart, green being bullish moves and red being bearish moves.
Furthermore, the 3-day RSI is significantly overbought. The last two time this happened it signaled that the bottom was very close and we were prone for a bullish move.
Be aware that there's still more room to fall. We have a very important FOMC meeting later today. A bullish market reaction might trigger a further decline in USDT dominance and a corresponding bullish move from crypto. A bearish reaction might send USDT.D further up the resistance area.
Nevertheless, most of the damage from the current correction has already been done.
Happy trading!
TOTAL Market Cap - Critical Support!Hello TradingView Family, this is Richard.
I usually keep an eye on TOTAL to get a feeling about the overall crypto market bias. Just like I keep an eye on DXY when it comes to Forex.
As per my last TOTAL analysis, we are still bearish trading inside the red channel/wedge.
The reason for this update is to highlight that the Head & Shoulders Textbook target/projection is filled. As marked in purple.
Moreover, TOTAL is diving inside a horizontal support (in green) and approaching a non-horizontal support/trendline (in brown)
But of course, that doesn't mean that the bulls are in control. Not yet!
For the bulls to take over , we still need a break above the last high and the upper red trendline.
Meanwhile, until the bulls take over, TOTAL would be overall bearish and can still trade lower and lower.
All Strategies Are Good; If Managed Properly!
~Rich
Not Much Time Left For BTC To Make A Decision! When looking at BTC on the 4hr TF we can see that it is approaching the end of the triangle shown. Every line shown is a major S/R zone. Let us watch and see which line will get broken first. If the diagonal line is broken, that will be a bullish sign and if the yellow line below is broken that will be a bearish sign. Whichever break, let's wait for a retest and a continuation in the same direction or the break, to confirm a bullish or bearish move.
Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect!
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This is not financial advice. This is for educational purposes only.