🔥 Total Altcoin Marketcap Inverse Head & Shoulders: New Cycle?TOTAL3, the total crypto marketcap excluding BTC and ETH, has been trading significantly more bearish than Bitcoin and Ethereum. This can also be deduced from the vertical trend of Bitcoin dominance.
Still, there's some good news to be said about the altcoin market. As seen on the chart, the altcoin marketcap has formed an inverse head & shoulders pattern, which is classically a trend reversal pattern.
Keep in mind that the pattern is not yet confirmed. First we have to break through the top resistance (neckline). Nevertheless, it's a pattern that we definitely have to keep a close eye on since it can signal that great things are coming soon for alts.
If the pattern confirms, there's a decent case to be made for the idea that the bear market bottom is in and that a new bull-cycle for alts will begin.
Share you thoughts🙏
Total
🔥 Crypto Marketcap On 3 Year Support: Perfect Time For EntryThe total crypto marketcap has seen weakness over the last two months. However, it appears that we've found support (for now) at a huge diagonal support line which goes from the COVID lows to the 2023 open.
This support falls in perfect conjunction with my Bitcoin analysis which discusses the idea that ~25k functioned as a spring for another leg up, see below.
So, the total marketcap is on a huge support together with BTC, and a lot of alts are currently oversold on the daily RSI, perfect conditions for bulls to step back into the market.
Do you think that the bottom is in, or that we're supposed to go lower in the near future? Share your thoughts🙏
Crypto Total Market Cap, $There are several factors that could contribute to the significant drop in cryptocurrency market capitalization to around $42 billion. The following events or factors could affect such a decline:
Massive sell-off of cryptocurrencies: If there was a massive sell-off of cryptocurrencies by investors and traders, demand would decrease and prices would fall. This type of sale could be due to, for example, security concerns, regulatory restrictions or broader economic factors.
Regulation and bans: If countries or regulators take strict measures against cryptocurrencies, such as outright bans or significant regulation, this could lead to a decrease in investor interest and restrictions on cryptocurrency trading.
Technical Issues: In the event of serious technical issues or vulnerabilities in blockchain networks or cryptocurrency exchanges, there could be investor distrust and reduced demand for cryptocurrencies.
Negative Public Opinion: If public opinion about cryptocurrencies were to change dramatically due to, for example, widely publicized fraud, hacking or loss of money, this could lead to a loss of confidence and a decline in the value of cryptocurrencies.
[UPDATE TOTAL] I said it multiple times. This a good scenario.Accumulation means accumulation.
Short term:
A) quick pump, then down, then deviation (yellow line), then trend range down, then deviation to 1st of Jan 2021, then up.
B) quick dump, then up, then A)
Long term:
A) meltup after accumulation, then down
B) Up then down again after halving
See chart.
This is one of the scenarios I'm watching.
ETHERIUM LONG TERM market update I hope u know that this is a personal opinion and everything can happen in between this trends or s/r levels and market will never care about our feelings but we can have different opinions at the same time for ourselves and with risk management and stop losses for short term trades we can decide what to do at different points of live market
I hope u have the same opinion
$TOTAL3 = No $BTC or $ETH weaker vs counterpartsCRYPTOCAP:TOTAL 3 = #altcoins = No CRYPTOCAP:BTC or CRYPTOCAP:ETH
Yellow line has shown to be VERY important
In 2021 #altcoin traded in the area for 1 month before it ended up breaking out to the upside
Broke & CLOSED under yellow line 11/22 - 1/23
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CRYPTOCAP:TOTAL3 Has broken the yellow line @ green arrows & has found support right underneath, done this 2x before today, SO FAR @ LEAST
This is 1x it hasn't had big reversal & HEAVY volume
Each bounce @ this area has been weaker
Hmmm
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Volume has picked up but it is not what it was before
Could this be waning interest in the space?
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RSI looking better, positive divergence
CRYPTOCAP:BTC has HUGE favor vs #altcoins atm
CRYPTOCAP:ETH not shabby either
SEC & FUD has hurt this sector, shame
Hard to call direction atm
CRYPTO MARKET CAP is completing an IH&S and set a 2.18T target.The Crypto Total Market Cap (TOTAL) has broken above its Bear Cycle Falling Wedge since March and is now about to complete the Right Shoulder of the Inverse Head and Shoulders (IH&S) pattern whose Head priced the bottom.
The 1W MA50 (blue trend-line) is the Support since March while the 1W MA100 (green trend-line) the Resistance since May 2022. Standard IH&S patterns go for a 2.0 Fibonacci extension and as you see that falls almost exactly on the 2.17T Resistance (March 28 2022 High). That's at 2.18T and it is our long-term target.
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$TOTAL 3, ALTCOINS, ares in wait mode while $BTC adjusts#ALTCOIN are in an important position to BREAK UP or BREAK DOWN
The yellow line is VERY IMPORTANT
Redrew the lines we had before as CRYPTOCAP:TOTAL 3 (No CRYPTOCAP:BTC or CRYPTOCAP:ETH ) hasn't found its low yet (although may be basing)
Volume is reducing = good (less selling as it lowers is good)
RSI looks good
Lots of resistance but if #BTC moves higher then #altcoins should PUMP, pump hard
TOTAL ANALYSIS (1D)Hi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT the TOTAL symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
BTC showing bullish signs targeting 35KHello, everyone.
Previously I've posted an idea with a bearish bitcoin outlook.
However SPX, has had a bullish reversal, and so it seems that BTC is having one also. Failure to reach the first bearish target of around 25k indicates, that this bullish reversal wants to take BTC to somewhere around 35k. If we reach the new target of 35k, I'll be looking to short somewhere up there.
Good luck
Stay safe, stay liquid.
TOTAL MARKET CAP ANALYSIS!!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer all, thank you, guys.
TOTAL MARKET CAP ANALYSIS UPDATE:-The total market cap is moving in a long symmetrical triangle. Currently, it has bounced off its trendline support. The RSI is in the oversold region and is showing a bullish divergence.
A bounce off the trendline support and a solid breakout of the descending trendline will confirm a strong upward move. In case of a sustained breakdown of the ascending trendline, the market is expected to decline.
The MACD crossover is showing a contraction phase. A solid breakout of the symmetrical triangle will confirm the extension movement in the market.
The total market cap is above the ascending trendline support and trading inside the Ichimoku cloud. Volume is very low and the price is in the contraction phase.
Hit the like button if you like it and share your charts in the comments section.
Thank you
Total Market cap daily wave countingAs it is clear in the chart, a 5-wave impulse structure has been created, probably this 5-wave structure is either wave A or wave 1 of a larger structure.
So now we need the market to complete wave B or 2 and enter correction.
With time analysis calculations, the possible time levels of price return are:
8 Jun
25 Jun
12 Jul
4 Aug
5 Sep
Also, using the Fibonacci retracement, our possible price levels for the retracement end are:
1.022 B
958.50 B
900 B
In addition, with the formation of the head and shoulder pattern, the main target of the head and shoulder pattern overlaps with the second target of Fibonacci, i.e. 958.5 B, so this range is very important for reversal and support.
Crypto $TOTAL 3 been weak & likely has lil more to goUnless you're not on twitter #memecoin season hit hard & looks like it has likely GONE
This was a weird phase, very different from many others
Usually the pattern on break down = CRYPTOCAP:BTC > CRYPTOCAP:ETH > #altcoins > #memcoins
But most #crypto fell at same time this time around
Well, except SOME #memes
IMO the Bull is not dead BUT has a few spears in it (think Spain)
LONG TERM #crypto just retested BREAKOUT lvl
Need to expand long term chart