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Total3

Altcoins Double-Top, DXY Double-BottomShould TVC:DXY move back down to the bottom shown on the chart above, the altcoin market could move back to its top. There is also a possibility of this happening if DXY simply moves sideways for an extended period of time. However, if DXY moves back up above 105-108, hits 112-116 and continues, expect the altcoin market to move much further down. Why? The altcoin market and TVC:DXY are significantly negatively correlated, moving in near mirror-images of each other. DXY correlation with alts (and Bitcoin, Stocks, etc) does cycle into the positive at times, but predominantly remains in negative correlation, long-term. This makes sense, too: as the dollar index strengthens or inflates, the vast majority of everything that can be purchased with it will lose value as the dollar index weakens or deflates, we see them gain in value.
CRYPTOCAP:TOTAL3Long
by dudebruhwhoa
Bitcoin Dominance is Close to its TopTLDR: • BTCDOM is in the final stages of a Cup and Handle Formation. • Max target for BTCDOM is 500 billion. • I estimate that BTCDOM still has two or three months of upside. During this time Bitcoin will perform better than most alts. However, BTCDOM is close to toping. Once BTCDOM realizes its full potential I expect the alt valuation in BTC terms will increase. Background: • In a previous TV idea, I covered the TOTAL 3 Chart (linked). My conclusion was that the altcoin bear market is close to its end. I wanted to corroborate or refute this Assessment by reviewing the BTC Dominance chart. I am happy to tell you that my bias seems to be accurate. • To be clear Bitcoin is mega-bullish and I expect it keep being bullish. The only aspect of bitcoin I expect to diminish is its dominance in the crypto market. Chart Analysis: BTCDOM is in the final stages of a perfect Cup & Handle formation. These include the following: 1. Uptrend: BTCDOM was in an uptrend since May 21st until June 22nd . During this period BTCDOM rose by 195%. 2. Correction/Cup: Since March of 2023 BTCDOM was in a correction. This correction took the shape of a rounding bottom. The lowest point of this correction touched the 0.382 fib retracement. This is a valid Cup. 3. Handle: During the Months of March and April BTCDOM consolidated in a Bull Flag which is valid for a handle. 4. Breakout: BTCDOM broke out to the upside on the weekly candle of April 24th. BTCDOM tested the 338 billion level as support on the weekly candle of May 29th. 5. Target: The target of this Cup and Handle formation is the 500 billion level. Currently Bitcoin is at 387 billion. Conclusions: This may sound bearish for altcoins. However, I would like to point out a few issues. A. it is not guaranteed the BTCDOM will reach the 500 billion level. B. Even if it will, it took us 10 weeks to get to the halfway point, so we have 2 or three months of an extreme BTCDOM at the most. C. Markets are forward looking. If I can analyze the chart and see what is coming, you can bet your last Satoshi that the VCs and whales see it as well. My guess is that they are accumulating big-time. D. Ask yourself: Would I long an asset that already made a 250% gain? or would you look for an undervalued asset that still has a lot of upside? E. BTCDOM is close to oversold on the weekly RSI. Does it have some room for more upside? Sure. However, BTCDOM is close to the top. Please read my TOTAL 3 analysis for more context. NFA. What do you think? Please share in the comments. Best Wishes.
by NewThoughtCrypto
Where is the Altcoin Market Heading?TLDR: IMO, the altcoin market is in the depression phase of the Wall Street Cheat Sheet. I expect TOTAL 3 to hold the 300 billion support level and break out of the falling wedge when Bitcoin breaks the 31K resistance level. Target: 1.11 Trillion. I know that for you to take me seriously I should tell you that all alts are going to zero and that you should ditch altcoins and just trade Bitcoin. Sorry to disappoint you, I think we are on the verge of a breakout. Take a look at the recent past. Do you remember what it was like in November and December of 2022? Bitcoin was trading at 15 and 16K and almost everyone on CT was calling for a 10K Bitcoin. Do you remember the disbelief many of us felt in January of 2023 when all of a sudden Bitcoin became mega-bullish? It still is, but that doesn’t stop all the sidelined traders to keep calling for new bear market lows. If you feel that the altcoin rally earlier this year was a “sucker’s rally” and now everything will go to zero, just know that we are at the final stages of the altcoin bear market. How do I know? Just look at this “Psychology of a Market Cycle Cheat Sheet.” We are past the anger phase about the Garry Ganslers of the world and well into depression. If you missed some or all of the Bitcoin rally the market is giving you a second chance. Now, to the chart: The TOTAL 3 market cap chart displays the market cap of all the altcoins excluding BTC and ETH. That includes stables. We can see that the altcoin market is in a correction since November of 2021. Unlike Bitcoin and ETH, altcoins are still in a bear market. However, the chart formation is that of a Falling Wedge which is a reversal pattern. TOTAL 3 tried to break out once in April 2023, failed (anger), and went from 406 billion to 292 billion, about a 28% drawdown (depression). However, if you’ll take a look at the Accumulation/Distribution indicator you will see that it did not go down nearly as much. My only conclusion is that someone is picking up alts for cheap! Theoretically, the altcoin market could remain in this wedge further, even go down as low as the lower support line would allow, and remain bullish (pink dot). However, I think it is unlikely. If the people in the market today were sellers, they would have already sold. Just remember the FUD and depression of late 2022. IMO, alts are at the same point Bitcoin was then. I think that the 300 billion support level will hold and as bitcoin breaks the 31K resistance level the alts will break out of the wedge. As this cycle progresses towards the halving some bitcoin profits will go into altcoins and later new market participants will fuel the altcoin market further. IMO, this is the time to accumulate and even take long positions, the best is yet to come. Remember it is always darkest before dawn. (Image retrieved from: fifthperson.com)
CRYPTOCAP:TOTAL3Long
by NewThoughtCrypto
🔥 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🙏
CRYPTOCAP:TOTAL3Long
by FieryTrading
5
Total 3 Bull Market in Jan - Mar 2024Total 3 - Altcoins (minus BTC & ETH) A different "perspective" to yesterdays chart. Yesterdays chart suggested TOTAL 2 (Altcoins minus BTC) has a probability of breaking out in Dec 2023. The TOTAL 3 (Alts minus BTC/ETH) chart suggests we could break out later between Jan - Mar 2024. This would make sense as BTC and ETH are typically first movers, and are followed by the altcoin market. Its important to understand that these charts help gauge timing a long term trade in altcoins. The charts only provide a rough time frame of a probability of a break out into a new secular bull market between Dec 2023 - Mar 2024. All this offers is a probable time window. I would hope it would help you sit on your cash until we have some confirmation of price direction within a historically reasonable time frame, as illustrated in the charts. PUKA.
CRYPTOCAP:TOTAL3
by PukaCharts
🔥 Altcoin Extermination: Worst Case Scenario ExplainedAfter Friday nights' massive drop, the total altcoin marketcap (TOTAL3) is hugging it's bear market lows of December 2022. Bitcoin is still holding up, but alts have been losing exponentially against Bitcoin, with no immediate end in sight. In this analysis I'd like to explore my personal worst case scenario for the altcoin market. Where the alts dropped (on average) over 92% last bear market, they've 'only' dropped 75% thus far., see yellow dotted line This makes one believe that the bears still have more to ground to gain in the near future. In my view, the worst case scenario would bring the altcoin marketcap all the way towards the lower dotted purple support. This would mean that the average altcoin will drop another 60% from it's current levels. One might think this is far-fetched, but I believe that this scenario is plausible if BTC will start dropping more. However, we're not there yet. Some serious problems have to arise if we ever want to get at the worst case scenario. But, as we've seen last Friday, crazy things can happen randomly. Do you think this is a possible scenario? What is your view on the altcoins? Share below 🙏
CRYPTOCAP:TOTAL3Short
by FieryTrading
11
TOTAL3 makes me thinks alts still have to bleedI've layered in some more alts but then I remembered to check TOTAL3 (total market cap without BTC and ETH for those who don't know) and I saw my descending channel hasn't been filled yet. I think before we can comfortably spend big on our bags TOTAL3 has to test that lower support and reach 253 Billions. More or less it's another -15% drop from here. My advice is to buy small when you DCA and keep your cash ready for when we bottom because we won't stay there for more.
CRYPTOCAP:TOTAL3Short
by Shotokhan
1
$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 - 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 - Volume has picked up but it is not what it was before Could this be waning interest in the space? - 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
CRYPTOCAP:TOTAL3
by ROYAL_OAK_INC
Growth/Losses of All Altcoins Excluding Eth vs. BitcoinHere's a look at major peaks and valleys in Bitcoin and Total3 (total altcoin market excluding Ethereum) starting from the Dec 2017 peak until now. First, a key to follow along: Key: - Solid Green/Red Lines = Peaks/Valleys occurring during the same week or day between both markets - Dotted Green/Red Lines = Peaks/Valleys where dates deviate between the two markets Traditionally peaks and valleys have happened around the same time, sometimes with minor deviation where altcoin market's peak or valley occurs shortly after Bitcoin's, if not on the same week or day, and altcoins as a whole have typically shown stronger losses than Bitcoin from peak to valley, in the past. After the 2017/18 peaks, Total3 lost more, in less time, than Bitcoin. It peaked a few weeks later and then bottomed on the same week. More recently, that deviation has grown in length and changed in scope. Here's how: March 2020 low through the April/May peak: --Total3 moved stronger and for longer (by just under a month) than Bitcoin. It typically does move stronger, but moves tend to end nearer to each other than what happened here. November 2021 ATH to our most recent ATL: -- Despite many alts having steeper losses than Bitcoin, as a whole Total3 lost approximately 3% less than Bitcoin and its valley occurred 6 weeks after Bitcoin's. In this case, it moved weaker than Bitcoin and has shown the longest deviation in the time it took to do so. About a month ago, around April 13th, Bitcoin made a new local high. Altcoins haven't yet followed. Interesting, right? That said, we still don't know for sure whether Bitcoin is headed towards a new peak or a new valley. Let's see how this plays out.
BNC:BLX
by dudebruhwhoa
33
If TOTAL3 repeats itself...I don't particularly believe in fractals etc... however if TOTAL3 (altcoins market cap without BTC and ETH) repeate his previous run in the same time we should see next top at 1.273 trillions dollars. I think it could be higher but let's just stuck with the projection of history repeating itself. Off course I made the projection assuming the bottom of this bearish channel will be touched again (it means new lows are coming). In that case go watch what price had your favourite altcoins last time TOTAL3 touched ATH (red arrow), assess where do you see it bottoming unless you think it has already bottomed and do a math proportion to understand where price could go. This is an indicative method to understand which altcoins is more worth to accumulate during bear market. Good luck
CRYPTOCAP:TOTAL3
by Shotokhan
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
CRYPTOCAP:TOTAL3
by ROYAL_OAK_INC