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#TOTAL Updated analysis on Crypto Total Market cap chart #CRYPTOJust a quick update on the Crypto Total market cap chart: We are running into the declining 20day moving average (blue line) which has acted as resistance recently. This is also where we find the anchored vwap from the most recent swing high on the 15th June 2021. This is all happening within a declining volume profile in a rising channel formation which both generally paint a bearish picture. Within the medium picture from the highs on the 12th May 2021, we could still potentially see a 3rd wave to the downside. The 2nd wave was preceded by a bearish triangle consolidation pattern which I had pointed to previously. This rising channel could lead to the next leg down (wave 3). The total market cap chart has been trading below both the 200 day moving and exponential moving averages (green lines) for the last two weeks which is not a characteristic of a bull market. We are also stuck under the 50 level on the RSI which is another sign which shows weakness (we will need a break above the 50 RSI level to move back into bullish territory.). Putting this all together leads me to believe that we could very well still be in for another leg lower but we will have to watch closely to see how cryptos behave around these very important levels. Good luck!
CRYPTOCAP:TOTALShort
by MarcoOlevano
$TOTAL Crypto total market cap analysis 6 June 21After breaking down from the strong rising channel that was in place since the beginning of the year, the total crypto market cap chart found support between the 200day sma & ema. After an aggressive bounce off the lows we have now seen price consolidate in a sideways fashion for the last 3 weeks with the possibility of a triple top formation in play. These sideways consolidations after a strong move down are normally continuation patterns, so at this stage I would lean in favour of crypto assets having another leg down to test the 1.026 trillion mark. This means it is possible to see another +-500mil of market cap wiped off the asset class to reach the target which would also be between the 360 day ema & sma. Of course, if we manage to close above this triple top resistance then I would be quite happy to change my view and favour further upside in the crypto space. As always let price guide you, but this is my initial thoughts from where we stand given the fact that we have made 3 equal tops and failed to breakout higher.
CRYPTOCAP:TOTALShort
by MarcoOlevano
ALTCOINS Following Fractal from Previous Dump IdenticallyThis is bullish for a re-gearing of the crypto market back onto bullish trajectories. This 51% selloff in BTC and larger selloff in alts is following this fractal pattern beautifully - Expect some days to be choppy, but all in all, up and to the right. As you can see we're about to have a bullish cross on the Daily MACDs and we are testing resistance on the Daily EMA ribbons. We just had a bullish cross on the 4H EMA 20 coming above the EMA 55. The 1H EMAs are all bullish now. Crypto is staging its next assault. Which is why you should be stocking up on the MOST fundamentally sound projects with near-term catalyst like DOT. DOT is my favorite token at this moment. Please see my analysis here on recent happenings in DOT and its ecosystem:
CRYPTOCAP:TOTAL2Long
by ich1baN
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