Overbought/Oversold BTC + fib levels This analysis is purely based on TA.
The bottom pane indicator represents peaks and troughs of the dollar's correlation with BTC, but the dollar is valued against bonds and gold. This is due to it showing the demand for cash/capital against safe heavens, therefore illustrating the beginning and ends of different economic cycles (states).
- Works by showing trend reversals or sudden increased strength of the trend at the purple middle line (correlation +above,-below) and it's peaks and troughs.
Total
TOTAL CRYPTO market cap, in trouble ?This is the 4 hour chart from, on the left, the Low after the FTX Scam to current PA and as you can see, even though people are worried, PA has not even retraced back to the 382.
There is a possibility that the next few weeks may well see PA drop lower and there is as much chance it may go higher
Fact remains, PA is approaching OVERSOLD and as you all know ( mostly) this means ability to go up under the right circumstances
What is amazing is how, as seen on this, the bears tried taking it lower but the Bulls stepped right back in. We have Support Still.
The DXY will be the trigger for the next few weeks now while we wait for the expected 25 point rise
Bitcoin, in its own right, is in a very similar position to this chart. The possibility exists of a pull back to the 2017 ATH line, around $20K and under catastrophic circumstances, $16K but this would be extreme.
Lets see how the week closes before we make to many choices I say
TOTAL MARKET CAP 12Hr UPDATE BY CRYPTOSANDERS
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TOTAL MARKET CAP ANALYSIS UPDATE:-After getting rejected from the strong supply zone, it is now bouncing off the ascending trendline support, where the Ichimoku cloud is also acting as a support.
The MACD crossover is losing bearish momentum, and as long as it holds above the Ichimoku cloud, we can expect a continuation of the bullish trend. While a solid break of the Ichimoku cloud will signal further correction in the Alts.
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Update2: BTC Scalping short trading opportunity
This is the sequel to my previous idea .
The support line of the diagonal triangle has finally been broken.
The coordinate of point (A) was erroneous, so I corrected it.
TOTAL and Nen-star patterns formed.
Recommended TPs unchanged (see also gray-color zones of the Fibonacci extension.)
For details, please take a look at the related ideas below.
TOTAL - Crypto market phases🟩🟨🟥⬜️Update on this chart since ~5 month dear Crypto Nation😎🚨
These repeating patterns of different market phases are still valid IMO🟩🟨🟥⬜️
Did we finish the A-B-C correction and are at the start of the Bottom market phase for Cryptocurrencies ❓
Let me know your thoughts in the comments🤗
⬇️⬇️⬇️
Likes and Follow for updates appreciated🤗
Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
Major Reversal Symbol Flashing for $DXYThe "TBO" indicator was created to show the strength of the trend as well as show breakout and reversal signs. The U.S. Dollar Index (DXY) has been an important metric for gauging the sentiment of TradFi markets (SPX, DJI, FANG, XAUUSD) as well as crypto markets (BTC, ETH, TOTAL), which means that all TradFi and crypto traders should be paying attention to this chart for two reasons:
If DXY is bullish, TradFi and crypto markets tend to trend bearish
If DXY is bearish or consolidating (moving sideways), TradFi and crypto markets tend to trend bullish and are more susceptible to bullish breakouts (like we've seen market-wide since November 2022)
So going back to the "TBO" indicator and its importance in showing DXY's sentiment, when looking at the current day (February 17th) we can clearly see several "TBO" Close Short symbols (the orange diamonds below the candles). These symbols tell us that the trend could be reversing soon, and that we should consider taking some profits out of our short position.
With this information in mind, and judging by past performance of the "TBO" Close Short symbols indicating upside reversals, we will be paying even more attention to three of these such symbols printed in a "cluster," indicating a stronger possibility for DXY to move to the upside, thus resulting in bearish sentiment for TradFi and crypto.
There is no way of knowing how long a supposed upside reversal will last according to the TBO, so caution must be exercised moving forward.
*Note: the "TBO" indicator is written with quotation marks because there is an existing ticker for TBO, which is not related to the Trending Break-out indicator. To prevent hyperlinks from showing every time we type TBO, we have added quotation marks.
BTC VS TOTAL 1W - Pattern invalided? During Deathcross BTC creates first the cross then TOTAL
During Goldencross TOTAL creates first the cross then BTC
The last Goldencross now in February (2023) BTC created first the cross then TOTAL.
Is the cross invalided?
Furthermore the next levels are 9% to next Reversal Point. Price: $26780
The average of 35% (based on the 2 previous Golden Cross) gets us to $29200.
Date Date. Days of. Price. Price
Start End Type Differene Open Close Difference Market Days 1st 2nd
01/04/18 08/04/18 Deathcross 8 $6.808,00 $7.020,00 3,02% -5%. 8 BTC. TOTAL
19/04/19 24/04/19 Goldencross 5 $5.258,00 $5.416,00 2,92% 150% 63 TOTAL BTC
13/10/19 26/10/19 Deathcross 13 $8.280,00 $9.244,00 10,43% -37% 36 BTC TOTAL
14/02/20 18/02/20 Goldencross 4 $10.360,00 $9.684,00 -6,98% -53% 25 TOTAL BTC
25/03/20 02/04/20 Deathcross 8 $6.737,00 $6.751,00 0,21% 50% 46 BTC TOTAL
19/05/20 21/05/20 Goldencross 2 $9.800,00 $9.071,00 -8,04% 35% 95 TOTAL BTC
19/06/21 07/07/21 Deathcross 18 $35.767,00 $33.836,00 -5,71% -22% 38 BTC TOTAL
31/08/21 16/09/21 Goldencross 16 $47.116,00 $47.775,00 1,38% 36% 39 TOTAL BTC
14/01/22 23/01/22 Deathcross 9 $43.097,00 $36.224,00 -18,97% -19% 9 BTC TOTAL
07/02/23 13/02/23 Goldencross 6 $23.243,00 $21.780,00 -6,72% ONGOING BTC TOTAL
TOTAL Crypto Market Cap DAILYThe TOTAL PA is sliding down the Support nicely while the MACD cools off. Its not ready to turn just yet so we may remain like this till Weekend.
The Long wicks show the battles going on right now and you can see how the 50 MA ( Red) acted as support yesterday.
There is little doubt the Bears are trying hard to drop the price but the Bulls are holding on
Support should hold despite the FUD and attempted destablising by the IMF nd SEC, which are all representatives of the traditional Banking industry
No surprises there then
$BTC vs $ETH vs $TOTAL 3 (Altcoins)Be careful with this drop
There's something more @ play here
Still cautious bull but $BTC can drop close to 10%
That's decent amount of pain for #altcoin
$ETH could fill the gap or drop to 1400
RSI looks BAD
$Total 3 = #altcoins is whimpering
Some bounced nicely already
#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