Total
#TOTAL (Crypto Market Cap Elliott Waves Analysis)Hello friends.
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Everything on the chart.
we have finished forming the ending diagonal and got a good upward impulse,
in the medium term I expect a correction to the ~850B area and continued growth with the main target in the 1.2 - 1.25T zone, if we are lucky, it is possible to see even 1.5T
Good luck everyone!
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BTC analysis for most possible directionDidn't post yesterday, was busy
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This is copy paste from yesterday
$BTC not looking so hot atm
#BTC RSI is sinking fast
$TOTAL 3 = #altcoin
Also looks weak but nowhere near as much
Facing heavy resistance
We're likely due for a lil pain from here
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TODAY
1/2
$BTC @ an important area
#BTC holding @ dotted line support
#bitcoin trading UNDER Red Mov Avg for 2nd day
Buy volume lowers, sells > than buys but not much
RSI MUST NOT tread sub 50 area (middle)
We break Green Mov Avg still ok but MUST HOLD Breakaway Gap area
#crypto
2/2
What about $BTC vs #altcoins?
$TOTAL 3 = #altcoin
Staunch resistance right above
Yet holding better than #BTC
4Hr shows some buys coming back
See the Inverse head & shoulder?
Ugly but it's there
#crypto had huge run, it's okay to REST as long as it doesn't fall asleep
Golden Cross irrelevant - Weekly crossover MORE importantTons of posts on Golden crossover
IRRELEVANT
Why? Because it's garnered so much attention it lost its validity YEARS ago
What IS relevant is $BTC WEEKLY short term crossover that we called Jan 30th
#BTC setting itself nicely
#bitcoin closed up .8% #altcoins up 3%!
#crypto
$BTC $ETH & Altcoin data, Memecoins running, what it mean?Important short term🧵
$BTC RSI not showing good signs, NEG divergence
#BTC HAS BEEN LEADING the rally but it's weakening
We've posted on this $TOTAL 3 doing ok
#memecoin running usually @ end of runs
#bitcoin MUST hold support levels
MUST hold number is 18kish
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2
$DXY running & RSI over 50 again
BAck to #crypto
$Total = ALL including $BTC & $ETH
Not showing recent strength of Total 3 = #altcoin
They all still have a ways to go to break down trend
Although #BTC HAS done it on it's own
#bitcoin has been LEADING until now
Rest time?
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3
$BTC broke downtrend not long ago & struggled
24k has been issue = MAJOR RESISTANCE &
NECKLINE for Inverse Head & Shoulder = BOTTOM
Now $ETH RSI looks ok
However HUGE resistance @ 1700 area
#ETH hasn't broken downtrend
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4
$BTC is to $DJI = $ETH is to $NDX
#DJI broke out before #NDX did
Very likely #BTC broke already & #ETH will follow
We'll likely take another month or so to realize the bottom
$TOTAL 2 = No #bitcoin, includes #ethereum & #altcoin, looks ok
We'll see how all pans out
Gnight
TOTAL3 = Altcoin Crypto is moving better than BTC atm = LIKEY!Please see profile
This is re-post
$DJI almost went green since post
$NDX went HIGHER
$BTC sells but fresh buying came in
#bitcoin battle ensuing
#BTC breaks 24, hopefully with volume we should see MORE than 10% pop, maybe even fill gap
*******
#Crypto #altcoins pumping $Total 3
$BTC bearish engulfing light volume - Now what?1
Said MANY TIMES 24k would be HARD for $BTC
#BTC high = 24080
DAMAGE DONE:
Short up trend broken
Bearish engulfing but LIGHT volume
STILL IN PLAY:
Breakaway Gap
Inverse Head & Shoulder
RSI above overbought, red dotted line
#bitcoin playing out as expected
Rest of #crypto?
---
2
#Bitcoin BULLISH WEEKLY CROSSOVER soon?
Bearish crossover happened DEC 22
$TOTAL 3 = #crypto #altcoins - hasn't looked as strong as #BTC
RSI been going lower but currently resting @ red moving avg, holds = good
1 last thing
$BTC 4Hr hasn't traded under avg's since Dec 30
Total vs Total2 vs Total3Let's compare $TOTAL = all #crypto
vs NO $BTC with $ETH = $TOTAL2
vs NO #BTC or #ETH > #altcoins = $TOTAL3
Not much change between T & T2, although T looks a bit better
However, T3 is beginning to show lil more spunk
Could we be setting up for MORE #altcoin moving?
We'll see soon
Crypto Total 48k FractalWe have taken liquidity from the last supply area (yellow line) at the top BEFORE the FTX pump
This means all Shorts that have tight stop losses BEFORE FTX DUMP are now taken out.
TOTAL is painting a fractal similar to how it did at 48k
This is concerning, and Long should be very careful here
TOTALThe total index is below the psychological range of 1 trillion.
Since the size of the bullish impulses is gradually getting shorter, we are likely to see a correction.
But if the level is broken with a strong trend, the scenario will collapse and the rally will continue.
In a few days, the Fed will announce the interest rate, it is likely that the market will react after that.
Where is the BTC bottom???BTC supply is rarely calculated/used in charts. Since we analyze equities/idices divided by M2SL, we should divide BTC with it's supply.
Since 2021, BTC supply increases by ~0.003% per week. At least according to the BTC_ADDRESSES ticker.
While this may not analyze the true amount of BTC in circulation, it is at least a start...
This process allows us to add a distinct bound to it's price. It's logarithmic expansion is hard to analyze. So this transformation solves most of our issues with it.
A larger view of the chart.
SCENARIO 1
Bitcoin wealth trends upwards compared to it's supply - It creates wealth
The channel was drawn using a log-scaled regression.
The light-blue line is a more realistic target for the bottom of the channel. The 2020 black swan is an outlier, we do however take it into consideration as a terminal target.
In order to get an idea of the timing, we draw a channel for the last 100 weeks.
And after extrapolating the trend channel, we take 6 targets.
Taking into account the increase in BTC supply (increasing supply, decreasing price) we get the final targets.
A=14220, B=12987, C=14719, D=13468, E=15432, F=14113
SCENARIO 2
Bitcoin fluctuates horizontally to eternity
Look at this retracement...
The 1.618 ratio is an impenetrable border (?)
This chart suggests that perhaps there is a big drop ahead of us, I haven't pinpointed a probable bottom. I will update this idea in the future if I come up with anything.
Price never succeeded to pass this ratio. Instead we had distribution for the last two years. It feels as if this ceiling may never give in. Bitcoin's role to society must change for it to skip this border. Then price might head to an entirely new scale. A monetary crisis could provide an opportunity for BTC to become a viable alternative to fiat currency.
Make sure to follow this idea by SPY_Master for more information about the brewing crisis.
Tread lightly, for this is hallowed ground.
-Father Grigori
Rising Triangle Idea To 30k I believe there will be a small pull back "trap" to the baseline of the first flag around 21k.
This will cause the unexperienced trader to think the rising wedge has been broken.
The impulse wave following afterward towards 30k will be strong and many shorts will be liquidated.
What happens next? 10k or 42k... we shall wait and see!
Not trading advice, Just for fun! (:
Pattern Similarity with 2018 Bear Market RecoveryWhat follows is a comparison of the daily chart during the 2018 bear market recovery with the present weekly chart. Markets like to repeat patterns, with similarities and differences:
Repeating Pattern Similarities:
Both made a head and shoulders top
OBV and Volume show similar patterns of behavior in both charts
The amount of correction prior to recovery is similar
Repeating Pattern Differences:
2018's head and shoulders top had a descending (or practically straight) neckline. 2023's head and shoulders top has an ascending neckline
OBV has dipped more during the present downtrend than before, and Volume peaked earlier during the head/shoulders top this time (Volume is also down more now than it was during 2018 recovery, respectively)
Signs are pointing to a recovery, but DXY is behaving strangely and market conditions are entirely different than they were in 2018.
2023 Recovery may be higher than 2018, if neckline is reached - it could look like a double-top with a lower high (potentially even another HS pattern at the end)
Should the pattern repeat itself again on the higher time frame, I've outline a rough path that could take us into one of the two red boxes, or even somewhere in between, with:
-- Conservative Targets near previous head and shoulder top lows
-- Aggressive Targets stopping at or near the ascending neckline, and this would coincide with my theory of a lower high double-top, which I think is the more likely scenario (see related idea below)
-- Otherwise the potential to stop somewhere halfway in between either
Chart is long until recovery completes at one of the levels above.
This idea fails immediately if we fail to remain above the wedge here on a re-test on the falling wedge breakout (3-day chart pictured below):
Related Idea - neckline targets coincide with lower-high double-top theory:
Cheers, and thanks for taking the time to read through my ramblings!
-- dudebruhwhoa
TOTAL D2: +60% gains Target 1.5T USD(STRATEGIC)Why get subbed to me on Tradingview?
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TOTAL D2: +60% gains Target 1.5T USD(STRATEGIC)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
READ ENTIRE IDEA BEFORE EXECUTION!
🔸 Summary and potential trade setup
::: TOTAL 2days/candle chart review
::: total crypto market cap
::: bulls maintain control expect more gains
::: falling wedge broke down recently
::: setup still valid as of RIGHT NOW
::: chart is LOG SCALE
::: looks SOLID near 1T USD
::: expect more gains / upside
::: heavy resistances overhead
::: 1.15T/1.25T and final TP 1.50T
::: for now BULLS maintain control
::: clean breakout looks strong
::: if BULLS can pivot above 1T USD
::: then expect more gains in
::: crypto space in February/March 2023
::: extended bull run possible as well
::: SPECULATIVE SETUP
::: do your own due dill
::: and use proper risk management
::: TP bulls is +60% gains
::: details: see chart
::: FINAL TP is +60% gains 1.5T USD
::: recommended strategy: BUY/HOLD BTC + ALTS
::: TP BULLS +60% gains 1.5 USD final TP
::: SWING TRADE: BUY/HOLD IT
::: bull run not over yet
::: good luck traders!
::: BUY/HOLD and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: 1.5T usd fresh supply zone
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS/60% gains
::: Sentiment short-term: BULLS/60% gains
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
#ALTCOIN MARKETCAP is Flashing Important Signal.Have a blessed Sunday to you all.
ALTMACP broke to the upside.
I am just skeptical about it for one reason, the confirmation candle closed in the red.
Unless we get a candle closing in green above the same, expect manipulation.
Be careful about holding the maximum portion of your portfolio in ALts.
Alt/BTC pairs will bleed.
I prefer holding BTC and a few alts with fundamental advantages like VRA is 230% already, HFT has started its run( Chart coming soon), and many other Gems APT did 4x.
So follow me if you want to know the next potential 50x coins!
DYOR, This is not financial advice.
Do show your support if you like my work.
Thank you
#PEACE
$TOTAL vs $BTC part 2$Total vs $BTC
You can also compare how TOTAL3 is lagging compared to Total, Total2, and BTC
Fact that #BTC is testing long term downtrend SHOWS #BITCOIN is LEADING the charge
Yes, #altcoin are ripping BUT BTC is leading move BY STRENGTH, mkt cap
Bitcoin hasn't really done this last 2 times
Next couple days = IMPORANT
Need Volume & Breakout
#crypto
$TOTAL vs $BTC part 1$Total vs $BTC
You can also compare how TOTAL3 is lagging compared to Total, Total2, and BTC
Fact that #BTC is testing long term downtrend SHOWS #BITCOIN is LEADING the charge
Yes, #altcoin are ripping BUT BTC is leading move BY STRENGTH, mkt cap
Bitcoin hasn't really done this last 2 times
Next couple days = IMPORANT
Need Volume & Breakout
#crypto
MARKET BULL SEASON ( ALTCOIN SEASON )Crypto coins started to be discovered. Everyone wants to be rich. And this is why it is turning to altcoins instead of btc.
Especially the Shit coin Doge, Hot, Btt, Chz, etc. It will turn to pump coins. Season is PUMP season.
If the first areas are happy, the last ones will suffer great losses.
Sorry, these are the Facts.
You can wait for years. It is useful to be careful.
Because when they get what they want, they have nothing left to buy from you.
Sorry, Doge will finish the season with Btc.
For now, I see it as May 31, 2021.
Stay tuned, ahead. I'll share the exact dates.
Enjoy it very much on May 31st.
Pay attention especially on May 24th.
Hill Hunt will go out (ALL TIME High will come).
Look at the top selling. May some others win.
Getting out in the right place is most important.
This season is the season of disposal.
Move up, those who open Short can do a lot of damage.
When the bear season comes, we will lower the prices together.
Pay Attention to Your Stops.
MARKET CONDITIONHere we can see that TOTAL MARKET CAP has a RESISTANCE at the zone of "1.4 T" and if it takes RESISTANCE from the zone we can see a good correction in the market. Please avoid to take LONG TRADES at this time and if the the candle takes correction from the point you can look for short trades in the market.
ENJOY!!!!!!!!!