Crypto TOTAL Market cap on the verge of a correctionThe crypto market just had a decent recovery from its latest crash on Black Monday. Now, it seems we can expect another low based on the market structure and technical analysis.
Historically, September has often been a red month for markets. What I expect is a quick flash in the market before it goes up to make new highs, starting the main bull market we've all been waiting for.
This correction to $1.5T will provide the liquidity and fuel for strong bullish momentum toward the main target of $6-7T in the TOTAL Crypto Market Cap IMO. DYOR
Total
$TOTAL Trump Pump Gets Wiped Out By New Indictment The Trump Pump gets wiped out by the Democrats' relentless legal pursuit to take him out of the race with today's new indictment against him.
If Crypto CRYPTOCAP:TOTAL Market Cap does not hold the .236 fib, we will revisit the 1.8T range. That would be another 10% down from here.
Next critical support would be 1.479T, which would be a 20% sell-off.
I very well see this being a possibility to have one last real shake-out before rate cuts September 18th.
Stocks and BTCBTC is analysed from price 0, 12 Jan 2009. Aggregate of stock markets (IWM, SPX and IXIC) are analysed from 2009's crash. Both asset classes are normalised to gold.
Using the Elliot Wave Theory on the long-run movement of BTC and Equities the following has been determined:
1. BTC has converged to the stock market's movements
2. Equities and Cryptos have passed the Wave 5, currently finishing the Wave B corrective movement.
Crypto Total Market Cap ~ 14 months of bull run remaining?Crypto - CRYPTOCAP:TOTAL Market Cap
Another month has passed since I shared this chart. We are now past the half way point for this bull run. Over the next 3 months, this is typically were the market starts to reach escape velocity.
✅ Month 15 of 29 month bull run (past halfway now)
✅ Month 15 of prior cycles (green boxes) were
followed by major upward price movements.
✅ An ascending triangle or compression of the market cap can be seen via a series of higher lows held up by a diagonal support line, market cap is also contained by the overhead all time highs.
⚠️What's interesting is the TOTAL market cap has not made an all time high yet 👀
⏳The 10 month moving average is at $2.06T, we are presently under it at $2.04T however there are 16 days left in August before we have a candle close. Something to watch. It not definitive, but if we could hold above the 10 month it would be very encouraging. The 10 month moving average is still sloping up the way too which is telling.
⏳ Given the unavoidable recession concerns, I have included a Black Swan Line. I do not see this as the most likely outcome however its worth having a back the truck up line in the event of mass panic. This would be a great level for long term hodlers to enter, and could always use a level under the line as a stop for CRYPTOCAP:BTC price.
Summary
I remain bullish mainly due to where we are in the bull market cycle as per the chart timing above. We are fighting the 10 month moving average and it remains upward sloping. We have an ascending triangle of sorts forming and an underside diagonal support line we can watch as an increased risk level (if lost). The monthly candle presently looks like a hammer reversal candle. Patience is the name of the game here for long term hodlers.
Typically Aug/Sept are thee worst months for CRYPTOCAP:BTC price performance, so we should expect consolidation, sideways and a possible churn slightly lower before the market continues its ascent towards the end of Sept, start of Oct 2024. Looking ahead, the Christmas season often brings renewed excitement to the market. That all starts with the "Halloween effect" in October. All will be revealed with 60 days. Stay busy folks 🙌
PUKA
TOTAL - An Overview on the crypto marketcap#TOTAL #Analysis
Description
---------------------------------------------------------------
+ After a clear bounce from the support, another drop is occurring, which is normal.
+ We also have a strong support line that is providing significant support.
+ As long as the market cap remains above the horizontal and trendline support, there is hope for an upcoming bullish market.
+ A breakdown from this support zone could lead to further declines in the market.
---------------------------------------------------------------
Enhance, Trade, Grow
---------------------------------------------------------------
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Coinbase Remains In The Bullish Trend, So As Crypto MarketCoinbase is making strong and impulsive rally away from the lows, which should be completed by a five-wave bullish cycle from Elliott wave perspective.
We have seen some slow down for the last couple of months, but it looks like a clean wave 4 correction that can send the price higher into a 5th wave later this year.
Considering a positive correlation with the cryptocurrencies, it can also help Crypto market to stay in the bullish trend.
Biggest Day in the Crypto Market the Entire Bull Run!Absolute FACE MELTING day in the market today.
The biggest inflow of capital in the entire Bull Run!
CRYPTOCAP:TOTAL market cap pumped 13.75%
Bulls have reclaimed the .236 Fib
I expect a bit of a sell-off here, but if we can hold this level, we very well could have seen the bottom.
TOTAL3 - Bulls taking a napTOTAL3 began forming a descending parallel channel (Bull Flag) on March 31 and has been trading within it.
We recently had the third touch at the top of the channel, but it failed to break, showing signs of exhaustion indicating a greater probability of decline in the short term.
I will continue to monitor, but I only believe in all-time highs for altcoins when this channel is broken, but I wouldn't be surprised if we visit 450-480B before that happens.
Crypto Total Market Cap: Approaching Key Support - Will It Hold?#ETH/USDT #Analysis
Description
---------------------------------------------------------------
+ The chart shows the total crypto market cap trading within a descending channel, suggesting a bearish trend in the broader market. The marketcap has recently dropped sharply, approaching the lower boundary of the channel, which aligns with a key horizontal support level around $2.09T.
+ The 21-Day EMA ($2.227T) and 55-Day EMA ($2.279T) are sloping downward, indicating bearish momentum. The marketcap is currently trading below these EMAs, reinforcing the overall bearish sentiment.
+ The critical support level at $2.09T is being tested. If this level holds, it could serve as a base for a potential bounce back towards the upper channel line and the EMAs. However, a break below this support could lead to further declines, potentially towards the psychological level of $2.00T or lower.
+ The RSI is currently in bearish territory, around 33, indicating that the market is oversold but could still move lower.
+ If the total market cap holds above the $2.09T support level and breaks back above the 21 EMA, we could see a short-term relief rally. Key resistance levels to watch are the 21 EMA ($2.227T) and the upper boundary of the descending channel.
Bullish Scenario:
If the total market cap holds above the $2.09T support level and breaks back above the 21 EMA, we could see a short-term relief rally. Key resistance levels to watch are the 21 EMA ($2.227T) and the upper boundary of the descending channel.
Bearish Scenario:
A break below the $2.09T support level could trigger further selling pressure, with the next key support levels around $2.00T and the lower boundary of the descending channel. This would confirm the continuation of the bearish trend.
---------------------------------------------------------------
Enhance, Trade, Grow
---------------------------------------------------------------
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
TOTAL CRYPTO TICKERThe auto fib retracement and auto fib extension show both indications cryptocurrency ripe to for taking in addition to a complete bottoming out of the price as a whole. Distracted by something, or too busy soaking up the second month of summer? Long orange line represents the time period when the drop happened and the price of cryptocurrency going beyond the 100 day without improving therefore falling. Looks like an opportunistic moment where the fibonacci levels appear as though cryptocurrency is flailing around underneath the resevoir of time and money.
defi summerthis chart portrays the total market cap of the defi dominance.
it's currently sitting at 3.98% with an inverse h&s on a weekly timeframe.
my projected upside target sits at the ath of about 7.95%
---
the last meaningful defi summer we experienced was in 2020.
☀
let's make this one count.
---
i'm projecting this defi market cap dominance to hit 8% into the presidential election where a soft top will likely be created.
i've shared a lot of plays over the last few months with our members, and we're just chilling into november.
---
tldr; hodl into a 3-4 month long alt season, and tp into the presidential election.
Future forecast with fractal pattern detectionTake this as a representation of entire market structure
On the first pannel, you can see 4 boxes
The bigger ones A+B (green continuous period) are a perfect representation of the smaller ones A+B (green dotted period)
They are fractaly similar
So, we will take the small pattern period to reveal what will happen with the bigger period
And that is what we see on the 2nd pannel: the blue line on the 2nd chart is the exact pattern of the small period, but plotted over its bigger counterpart
Hold tight, because it will be a great ride!
Why BTC is bullish yet !!Im bullish on btc cause of 3 reasons in terms of fundamental vision :
1- fear of MT.gox repayment is over the truth (FUD)
becoase :
a) reapments will be gradual
b) BTCs will be repay by several CEXs (pervent from drop)
c) creditors wont sell btc at once cause of tax
2- capitulation of miners were done! : according to onchain data
3- selling by Germany GOV is related to order of the court , not for Getting profit .
dont sell your crypto !
BTC Futures. Bulls fade. Robust gain de-established.BTC has reached the top around US$ 73700 on March 14, 2024 as it was clearly explained in previous publication.
Since that it's gone around 1 month till now, and no one new high was printed in BTC.
Bulls fade. Robust gain de-established. Upside bubble-alike trend transformed into detrend structure with flat top near US$ 73000 per BTC.
RSI (14) is sluggish also.
This idea is for b-adj CME’s Bitcoin futures contracts, ticker symbol BTC, which are a USD cash-settled contracts based on the CME CF Bitcoin Reference Rate (BRR), which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.
The BRR aggregates the trade flow of major bitcoin spot exchanges during a one-hour calculation window into the U.S. dollar price of one bitcoin as of 4 p.m. London Time.
The Bitcoin futures contract trades Sunday through Friday, from 5 p.m. to 4 p.m. Central Time (CT).
A single BTC contract has a value of five times the value of the BRR Index and is quoted in U.S. dollars per one bitcoin. The tick increments are quoted in multiples of $5 per bitcoin, meaning a one-tick move of the BTC future is equal to $25.
BTC futures expire the last Friday of the month, and are listed on the nearest six consecutive monthly contracts, inclusive of the nearest two December contracts.
Technical graph indicates on a detrend structure, where near 73K per BTC is the Top, and near 55K is the target.
Technically, BTC can retrace to mentioned above level as it still below reasonable resistance.
$TOTAL is flerting with important Fibonacci Circle resistenceAfter a fake breakout from important Fibonacci Circle resistence and a fake breakout from the downward blue continuous line, CRYPTOCAP:TOTAL is trying to find now support over the daily 200 EMA (green line) that coincides exactaly over an important VWAP reset line
If prices continue to fall, a very important support will be over the market "Support Box"
Once the price breakout from the red Fib Circle, market will continue its move upward
Chart Idea - TOTALWaiting for this inverse head n shoulder to playout. In order for BTC to move further up and liquidate more shorts, TOTAL needs to break the neck line of this inverse head n shoulder pattern. We will see BTC going down again if it gets rejected from here. Will keep on updating here.
Elliot Wave 3-4 : FINAL Correction before NEW ATHI've been watching this bearish M-Pattern for some time, and I still believe this is a multi-month playout towards a new ATH:
This lines up with my initial correction target using Elliot Wave Theory:
We see a very clear Double Top play out in the Total Chart, also indicating that it's time for a correction:
HOWEVER - I expect the bulls to be ready and sweep in lower prices when the right support zone is reach (whale zone), which seems likely to be in the 40k zone. It won't be a straight line down - again, a multi-month playout is likely.
_______________________________
CRYPTOCAP:TOTAL BINANCE:BTCUSDT
TOTAL2 - Support Test of This Curved TrendThis curve has been the dominant trend for awhile now and I think it will be used to push TOTAL2 higher.
I believe we are at the early stages of a larger bullrun and this trend will aid in furthering the bull market.
Three circles show bounces off the middle of a down channel drawn against the tops of recent highs.
Personally im still bullish.
4Hr Chart.