TOTAL2 Food for the Bulls - Dip being boughtThis is a great pullback to catch if you are looking to buy in to one of your favourite altcoins
All of them (basically) on sale!
I have been patiently adding myself
There has already been one bullish rejection along 2618 I expect another to follow, allowing the market to continue pushing new highs
Total2usd
Alts MCAP (TOTAL2) AnalysisWe are either looking at a nasty rejection continuation
Or a double bottom formation and a break of this trendline that has been continually tested (3 times)
Personally the bear scenario sounds more logical to me, yet this is crypto so I accounted for both sides.
The 200MA (yellow line) wont hold if this breaks down. FYI
Market Cap Bullish Divergence, HourlyCharts for TOTAL2 showing price printing lower lows while the rsi indicator printing higher highs, this is an example of a rsi divergence
Charts for TOTAL shows that price is in a possible expanding wedge I would call it, it still looks quite bullish
In comparison though a RSI divergence on TOTAL2 Hourly is a very strong bullish sign, VeRy
Market Cap - Further Gann and Top predictions Suggesting an early 2023 end to the bull run
So based on my previous analysis I have managed to extrapolate roughly a June 2022 - April 2023 end date for the bull run
Personally I might brave myself for another bear market if I have the courage, or I am selling around December 2021 just to be safe.
The first Gann ring hits the 2018 Top perfectly, I don't see why it would change for future price movement
Price has also just broken above the middle Gann line (2018 top) this will act as a new support, very bullish, continuation.
Market Cap - Was the last bull run unique?If the last bull run was unique I pose the question why are we seeing similar patterns? (within circle)
With an impressive 452846.26% increase to reach the Top of the fib channel
Will this occur again? The TOTAL market cap would be incredibly high if so
I have my doubts but this is cryptocurrency, to reach the top again another massive move is implied, we will see I guess.
A very optimistic scenario.
MCAP Another view(b) is a Head and shoulders view, with a left shoulder and a head already formed, expecting a rejection at the next Gann line
(a) suggests price will smash through the next line, as it did previously with the same structure
(b) is a bearish short term view
(a) is a strong bullish view
This is the altcoin marketcap
In the chart above i show where the altcoin market may extend to, June 2022
TOTALMCAP looks bullish 1H, 4HOpen moving averages is when they are structured in this order, descending - 50, 100, 200 MA
During these periods of time bullish activity is often highly favored
A few golden crosses can also be identified on TOTAL2
I still think the TOTALMCAP is extremely bullish throughout 2021