TOTAL2 Retest, Likely Further Collapse - PitchforkTOTAL2 Has seen some great growth
there is more to come for the bulls but we are now jus taking a breather and gearing up
at the 0.5 line is a strong and likely point of support for this price action
Being tested as resistance three times, to be tested as a support? It will likely reject upwards and continue with the bull run.
Totalcap
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
CRYPTOCAP ~ Just for posterity, you can refer back to this laterI wrote a reply to some guy, in some thread, and I think its worth just making a timeline-post here about it.....
Copy/paste:
@ArtfulDodger1974, dont worry nothing here will fall. I can tell you confidently that I do business with whales, HNI, etc --- big and smart money. They are going into crypto big. Just yesterday - an example: Steve Cohen manages $22bn and he is setting up a deal right now to jump in. Big. It wont be publicized much I think, but do a search on it in 2-3 weeks.
I could tell you 20 other big money moves going into crypto - that WERE NOT in crypto previously - and THAT is the really big difference right now.
I am sure you can figure this out, but I'll say it anyway: smart/big money doesnt make moves lightly. When we decide to go into something - we are going to ensure it is the right thing, and it is going to be longterm, and viable, and work. Because our money is what decides that.
I was in crypto with my firm about 1.5 years before these guys that are moving en masse now, so I got a bit of a headstart - but I am certainly no Saylor (the "spokesperson" for instituional crypto asset management, if I can peg a label....).
I have also been in crypto PERSONALLY for slightly longer (about 2.5 years? 3 maybe? not counting that I mined bitcoin in 2013-2014 for fun on all the machines at my office when all my employees went home and I ran it over night --- that wasnt much anyway but it was nice to find that old wallet 4 years later and have a little nest egg I had totally forgotton about).
What we are talking about here is the difference between 100,000,000 (100M) poor working class people with an average of $2000 (thats the # thats been reported on robinhood and all these platforms avg trade volume / users), who will invest in something and sell it on an emotional whim or tweet ---- vs a massively growing list of: family offices + venture capital firms + large priv and public companies + "big" HNIs like musk, zuckerberg, and the next 500 on that list.....
So let me break it down:
100m retail idjits * $2000 = $200bn
there isnt even close to 100m of them - but lets just say 100m to be super generous....
--vs--
+ only 1% of the wealth of the top-500 HNIs = $10T
+ only 1% of the balance sheet of the average $100m+ company = $10T
+ only 5% of the asset management of the average-weighted family office/vc/pe firms = $10T
we could add allot more like pension funds etc
so we're looking at a total of >$30T that is already coming into crypto or will be coming into crypto over the next very short period --- possibly 2 years.
remember:
1 year ago we were a $250bn market cap - that was ALL CRYPTOCURRENCIES!
1 year later (today) we are 10x at $2.2T market cap. bitcoin ALONE is over $1T market cap.
if we do another 5x this by next year? we are a $10T market cap asset class.
I do not believe we are going to SLOW DOWN - I believe we are SPEEDING UP.
We could easily become a $20T asset class before you realize it.
The people, and entities, who decide these things: WE ARE BUYING CRYPTO LIKE CRAZY RIGHT NOW.
Its almost all OTC, which means its not on the exchange orderbooks. None of you see this.
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
Total Crypto Market lets have a lookhaving a look at the Total crypto market-cap including bitcoin to see what we can find.
as it looks like 7.2 trillion USD and possibly more should be no problem to achieve in this bull run.
we can also see why we had a massive dip in Bitcoin and the hole crypto market.
It simply came to the 10.618 and needed a correction.
it retested the 7.618 and currently has recovered most of it aiming now for the 3 trillion cap. where we have another 10.618 pivot and i expect another good and healthy dip once we reach that.. 3 to 3.1 Trillion..
if i find more observations on this chart i will update so follow it and stay tuned.
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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
Buy during the most bearish times!For all my followers; we anticipated this dump of the market since BTC was at 64/63K and we came a long way; we did all the pips for the week and thus BTC can consolidate this weekend. The total crypto cap found a local bottom and shows a clear bullish divergence which means we can see a short term recovery for the market as a whole. This means calmer BTC times are coming for the immediate short term which will allow alts to fly! Personally I'm very bullish on VET given it finished an ABC correction and can easily pump 20% in the next day or two. Lots of short term opportunities out there and remember; when the market is bearish, we turn bullish! (for the immediate short term)
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
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.
Market Cap - Sell pointSell point suggests 1 December 2021 to be optimal if this channel holds true
66 Degree angle ascension Is present within last bull run and proceeding bull run
I think I will be selling around this area, market may stay up till June 2022 as suggested by my previous chart
Bull run in effect
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