TOTAL - Tells The Whole Story!I usually keep an eye on TOTAL to get a feeling about the overall crypto market bias. Just like I keep an eye on DXY when it comes to Forex.
From a long-term perspective, the WEEKLY chart on the right, we all agree that we are still overall bullish.
Technically we are trading inside that big brown channel, and we are currently in a correction phase after rejecting the upper bound / brown trendline and 3T round number.
From a medium-term perspective, the DAILY chart on the left, we had a classic higher high, followed by a lower high, and then a break of the previous low. A classic market structure pattern, known as Head&Shoulders.
After breaking below the head and shoulders neckline, marked in gray, the bears took over and TOTAL started trading inside the red channel, making lower highs and lower lows.
That being said, we know that we are overall bearish, but what are the possible scenarios?
Scenario 1: Projection in Purple
A movement till the lower bound / brown trendline and green support zone is expected before the bulls take over by breaking above the red channel.
Scenario 2: Projection in Blue
A sudden shift in momentum, by an aggressive movement from here to break above the gray zone again, invalidating the red channel, signaling that the bulls are taking full control again.
Which scenario do you think is more likely to happen? and Why?
All Strategies Are Good; If Managed Properly!
~Rich
Totalmarketcap
Total Crypto Market in another Bull market break?Total Crypto Market in another Bull market break?
In the Bull market 2017 we never had a bearish flip on the 2 day MA Ribbon.
This already happened this year and it took 76 days for a flip back to bullish.
Will time and price correction repeat?
For price I don't think, since the RSI is already low.
For time I can more an more imagine a cycle top Q1 2022 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*no financial advice
do your own research before investing
BTC On Head
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BTCUSDT - Daily
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As Christmas approached, the money went out of the market.
And we will probably still have more money coming out and the market will move sideways.
And we will not have significant movement in the market.
We may see movements in some altcoins.
But not as an Altseason.
Bitcoin seems to be completing the head and shoulders pattern.
In this case, we will see the price move down.
Of course, after a little upward movement.
Crypto Market TotalExpecting this support area to hold to carry the market above 3.5T. If it fails, we will be in a longer consolidation phase and I expect alts to bleed. So please hold :)
Technically following week should get the momentum to oversold territory and get ready for the next leg up, its already printing a hidden bullish div but this is only speculation and momentum usually is not a reliable indicator in total market caps.
Good luck!
X Mas Rally Around the Corner? Not so fast..1 minute ago
I think I'm onto something that shows a clear map of what could possibly happen in the Equity and Crypto Markets.
We are at a pivotal point for the stock market and crypto and the writing is on the wall.
Currently, BTC is losing steam and broke a major support line in the last couple of days.
Equity markets have bounced but could be in a B wave for a C potential leg lower
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On the Horizon-
We have 2 realistic negative catalysts in the near term to close out the year which could be narratives for markets to go lower.
*COVID 2.0
*Inflation Taper from the Fed on the 13th December (This could cause a sudden reaction or this could already be baked into the price)
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-Now we can clearly see that there is a correlation between the US equity market and the total cryptocurrency market along with the US dollar .
- Retail investors in the stock market are expecting a Xmas rally and the Retail crowd in the Crypto community are expecting a 100k Bitcoin by year-end...
-I personally think that this sheep psychology has been too predictable for retail investors and this possibly could be a bull trap. The financial elites are indirectly using sentiment and Youtubers and Influencers are simply puppets to influence retail to buy the dip and HODL.
-You can tell that the big players and smart money have been exiting high growth equities and crypto as the US dollar has been gaining superior strength lately...
-This could be a huge opportunity for the institutions and big players to dump their bags on retail with all the liquidity that is created. They can close out the financial year with insane profits from 2021 and create tax-loss harvesting offsets by selling their risky investments. They could rock the entire markets changing the whole sentiment to be bearish then re-buy back into equities and crypto at cheaper prices in the new year for a great run to head start to the year in 2022. Not to mention Chinese New Year in Feb 1st 2022
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One reason I know why crypto hasn't run out of steam just yet...
-There hasn't been an ALTCOIN season yet. BTC .D needs to drop
-US dollar has to eventually reverse
-BTC hasn't made a parabolic advance yet after long periods of consolidation. We are almost missing the last 5th way in the Eliott wave cycle
MarketCap - Still Early!! (Rapid Increase) An idea using mainly the True Strength Indicator, which shows an evident two comparable points, we are at a point of continuation.
Using the Log trend indicator it shows a slow period of increase (which we are in) and then a greatly more rapid one, which we are on the brink of
Lets see how it plays out
Linking some relevant charts
Crypto TOTAL MarketCap PredictionIn this technical analysis, I looked at the Crypto TOTAL MarketCap chart to determine its future targets.
If we consider the starting point of Gann Box Tool on October 1, 2015 and the point of 0.236 in January 2018, we see that the point of 0.382 in April 2019 indicates the beginning of the uptrend. After that, we started a time correction until we reached the point of 0.5 in March 2020 and until the end of the point of 0.618, which coincides with the date of April 2021, we saw a strong uptrend.
Then we had a price correction that lasted until July 20, 2021, and after that we saw the price grow to the previous ATH.
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For the coming months, I expect the index to reach the internal 0.618 gann box range after a short-term correction above 1.9 trillion, which is in March 2022.
After that, I expect the index to grow to 4 or 7 or 11 Trillion dollar, which is in the second half of 2022.
A long-term target for 2025 to 2027 is also available, around 29 trillion dollar, set by Fibonacci at level 1.618.
TOTAL | H8 | Technical AnalysisRally or Bear season? Yes both! The market fell from 3 trillion to 1.930 trillion, there are still those who don't call it bear season! How long will this bear season last? If it goes down very fast, and it goes down to 1,800 trillion, this bear season may be over by February! However, we are currently in decline!
TOTAL 2 starting new cycle ? ♼Hi everyone,
wish y'all have a profitable life. 🕊
📍 As we have the TOTAL2 chart here, I personally think about a new cycle on the rise. The previous cycles have already been finished through 0-1 ; 1-2 corrections.
📍 We had an extremely important resistance line above the TOTAL 2 chart which held the further rise. However, we may have already finished the smaller correction and see a new cycle.
📍 I wait for the re-test of the resistance high or the pullback to the trend line.
THIS IS NOT A FINANCIAL ADVICE
Crypto Bear Market? No yet, as far as I am concernedI have seen a lot of charting around the TOTAL market cap which looks to identify the failure of the Cup and Handle formation that had very promisingly developed and the recent massive pullback below the Cup and Handle major resistance as the start of a mid-term to long term bearish trend.
While I am not ruling this out, to my mind we are still looking for confirmation in both directions. Looking on the monthly we saw price retrace and retest the monthly resistance marked on the chart above, and it received a very strong rejection. This monthly resistance is mapped from the monthly doji, which is structurally very important as the show periods of extended price action in a small range. It is possible we may see the price retest this range again and I suspect if it does we will see another strong rejection as this is the movement many are wanting for to go long from 42k range. A second rejection of this zone would confirm the strong demand and depending on the time frame possibly print a nice tweezers pattern as we did with the JUNE - JULY bottom.
If we look at the fib levels on the macro structure none of this price movement feels at all remarkable, with monthly price pattern remaining very loyal to the fib retrace levels, including the most important 0.5 which marks the monthly resistance
If sellers manage to pierce through this 0.5 resistance level on the monthly I think we then have to seriously considered the bearish mid to long term trend, but until we see this I still see this structure as overall bullish - so I am holding, accumulating small amounts at zones of interest and keeping a percentage of my portfolio liquid to buy are dips back towards the monthly resistance.
On the indicators, we did see bearish tops on the recent push up, but with this pullback we are now printing a nice hidden bullish divergence. My bias is bullish, but this chart just doesn't look bearish to me (at least not yet)
Total Crypto MKTCAP UpdateI've spent the last few days off of the charts. However, to make sure everything was still intact, I had to analyze.
In conclusion, total MA hasn't dipped below key levels of support and trend is still intact, RSI looks like it has bottomed and the MA is trending towards a bottom on total MKTCAP graphs. Full send soon...
Crypto Total MC Pattern/Warning, Dec 6This is Crypto Total Market Cap analysis, This will affect the whole market
Price is moving in a uptrend channel , right now price is at the bottom of this channel and also a rising wedge pattern is formed in the chart.
Its so important to wait till you see what will happen here
Red scenario: If it breaks the pattern (and also bottom of the channel) then sell because the market will be dumped
Green scenario: If it showed support then buy and invest
Total Market CapI don't like it. The whole structure is weak and looks like a head and shoulders.. I predict a slow year next year which may bring crypto markets sideways down while other less risk assets catch the spotlight. This is only a prediction and not a guarantee; But seeing our extension of the 200 on a weekly shows me something has to give here soon.. Good luck folks
100 Billion Dollar Washout is about to happen!In the Cryptocurrency market, Volatility is high..!
The true range is the largest of the:
Most recent period's high minus the most recent period's low.
The absolute value of the most recent period's high minus the previous close.
The absolute value of the most recent period's low minus the previous close.
The smallest true range in the past trading year was 4.01%, but the biggest one was as big as 41.82%..!
Yes, your investment in the Cryptocurrency market could be this volatile!
My question is:
What is your plan to manage this much volatility???
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
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