Crypto TOTAL Market cap on the verge of a correctionThe crypto market just had a decent recovery from its latest crash on Black Monday. Now, it seems we can expect another low based on the market structure and technical analysis.
Historically, September has often been a red month for markets. What I expect is a quick flash in the market before it goes up to make new highs, starting the main bull market we've all been waiting for.
This correction to $1.5T will provide the liquidity and fuel for strong bullish momentum toward the main target of $6-7T in the TOTAL Crypto Market Cap IMO. DYOR
Totalmarketcap
BTC : HARD DROP Likely BEFORE New ATHHold on to your horses - in today's analysis we're going to do a really deep dive on Bitcoin, the altcoin market (TOTAL 3) and Bitcoin Dominance (BTC.D) Make sure you watch all the way until the end to reach the final conclusion!
In this video, I systematically point out two main reasons why the corrective phase isn't over, as well as what could possible happen NEXT based on the rotations between alts and BTC.
COINBASE:BTCUSD COINBASE:BTCUSDT CRYPTOCAP:BTC CRYPTOCAP:TOTAL3 CRYPTOCAP:BTC.D
For months I've been anticipating a multi-month corrective pattern, before another impulse wave up which I believe leads us to our final all time high (ATH) for this bullish cycle. Although I've said "multi-month" quite a few times... who knew it would be such a drag! I nearly thought BTC was ready to turn towards the upside, but after THIS* happened (together with the analysis in the video) it's likely we're still heading lower:
*https://www.tradingview.com/chart/BTCUSD/h2bMes4J-BTC-FINALLY-Bullish-BREAKOUT/
THIS* is referring to my update on BTC two days ago, where it seemed like a bullish breakout. At this point however, the price is not able to hold the support zone (which was the condition I listed) and therefore it's likely a fakeout.
If you're looking for the idea I referred to in the analysis on the Altcoin dump find it here:👇
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Total2 path to 6 trillion dollars .Afternoon folks Mastershark here with a new TA about total 2 . History doesn’t repeat but it often rhymes. We see some similarities in Rsa behaviour for the previous cycle and the recent one. A pitchfork with some levels will explain a giant channel that we hit the level right below ath and we’re consolidating right beneath it . type of behaviour i see is to get ready and attack the previous high once more . In my opinion we will have some struggle with ath and will break it for close to 6 trillion dollars for altcoins mc which is extraordinary .
I don't see anymore lows except if we fill the shadow once more .
I put my tp in the chart and since we have a long journey ahead i think we might have two tops ( once everyone get off the boat we go higher ) .
Anyway thanks for reading and remember its NFA and always DYOR .
stay safe fam , see you at the top.
TOTAL2 - Weekly RSI View (Repost)A largeee formation is becoming apparent on TOTAL2 and can be seen across to ETH's chart
I would call it a large W formation with what we are about to experience being the right hand of the W, where RSI can extend and stagger sideways as seen on the left hand of this W.
I have called the areas in green boxes very similar and expect the bulls to turn this RSI around promptly.
Very bullish on this Weekly chart for Altcoins.
Crypto Total Market Cap ~ 14 months of bull run remaining?Crypto - CRYPTOCAP:TOTAL Market Cap
Another month has passed since I shared this chart. We are now past the half way point for this bull run. Over the next 3 months, this is typically were the market starts to reach escape velocity.
✅ Month 15 of 29 month bull run (past halfway now)
✅ Month 15 of prior cycles (green boxes) were
followed by major upward price movements.
✅ An ascending triangle or compression of the market cap can be seen via a series of higher lows held up by a diagonal support line, market cap is also contained by the overhead all time highs.
⚠️What's interesting is the TOTAL market cap has not made an all time high yet 👀
⏳The 10 month moving average is at $2.06T, we are presently under it at $2.04T however there are 16 days left in August before we have a candle close. Something to watch. It not definitive, but if we could hold above the 10 month it would be very encouraging. The 10 month moving average is still sloping up the way too which is telling.
⏳ Given the unavoidable recession concerns, I have included a Black Swan Line. I do not see this as the most likely outcome however its worth having a back the truck up line in the event of mass panic. This would be a great level for long term hodlers to enter, and could always use a level under the line as a stop for CRYPTOCAP:BTC price.
Summary
I remain bullish mainly due to where we are in the bull market cycle as per the chart timing above. We are fighting the 10 month moving average and it remains upward sloping. We have an ascending triangle of sorts forming and an underside diagonal support line we can watch as an increased risk level (if lost). The monthly candle presently looks like a hammer reversal candle. Patience is the name of the game here for long term hodlers.
Typically Aug/Sept are thee worst months for CRYPTOCAP:BTC price performance, so we should expect consolidation, sideways and a possible churn slightly lower before the market continues its ascent towards the end of Sept, start of Oct 2024. Looking ahead, the Christmas season often brings renewed excitement to the market. That all starts with the "Halloween effect" in October. All will be revealed with 60 days. Stay busy folks 🙌
PUKA
BTC/USDT 4-Hour Chart Update: BTC/USDT continues to trade near the 58,409 USDT level, which is a crucial support area. The price is hovering near the bottom of a descending triangle, indicating that this support level is being tested. The green trendline and the 52,408.76 USDT support remain critical levels to watch. A breakdown below this level could lead to further downside momentum, potentially taking BTC towards lower support levels.
On the resistance side, BTC is struggling to reclaim the 60,000 USDT level, and until it breaks above, the bearish trend could continue.
Feel free to ask if you need further details or additional analysis!
Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!
Biggest Day in the Crypto Market the Entire Bull Run!Absolute FACE MELTING day in the market today.
The biggest inflow of capital in the entire Bull Run!
CRYPTOCAP:TOTAL market cap pumped 13.75%
Bulls have reclaimed the .236 Fib
I expect a bit of a sell-off here, but if we can hold this level, we very well could have seen the bottom.
We are due a 2017 style ALT season.One for the memory banks!
Now
do we actually get what we are "owed" ?? :)
We don't know
and nothing is owed to us of couurse
But
Selling too soon could be quite disastrous... as many peopleI speak to say to me 5X - 10X I am out..
Which may be prudent
If you are out. Stay out and don't FOMO back in again near the tops
So it's best to scale out in my opinion
last cycle was a quite difficult Alt season ... some bag holders actually did not get to experience any euphoria
Hence why I am leaning to an exsplosive alt season
BTC at $70k doesn't feel euphoric
so what will it take?
TOTAL3 - Bulls taking a napTOTAL3 began forming a descending parallel channel (Bull Flag) on March 31 and has been trading within it.
We recently had the third touch at the top of the channel, but it failed to break, showing signs of exhaustion indicating a greater probability of decline in the short term.
I will continue to monitor, but I only believe in all-time highs for altcoins when this channel is broken, but I wouldn't be surprised if we visit 450-480B before that happens.
XRP decoupling from BTC? is this 2017 all over again? 10,000%?!!Last time this happened , XRP had a 10,000% Bull Run .
Bitcoin dominance on the verge of collapse
Bitcoin going down for correction while XRP is pumping
RSI non confluent
Volume on XRP increasing while BTC Volume is very Low
Bitcoin MA's all crossed to downside 20,50,100,200
XRP MA's all crossed to upside 20,50,100,200
if you have been on this coin and knowing everything XRP has been through in the past 4 years ,
then you will understand how big this is for the community and your patience is finally going to pay off .
Lets wait for more confirmation . If we see CRYPTOCAP:XRP candle close above $0.66 while bitcoin is correcting , then we will know if this is for real or not .
Best of luck.
Total 3 Analysis & name your altSimilar to Bitcoin, altcoins also began a correction in March.
Although this correction has been steeper, it remains a correction. After breaking below the 600B support, the total altcoin market found support around 500B and is now trading back above 600B, suggesting a false break.
The confluence of falling line resistance and horizontal resistance around 650B indicates that a break above this level should accelerate gains for the total altcoin market and potentially lead to a retest of the previous high.
In a more optimistic scenario, if Bitcoin heads towards 100k, we could even see a 1T market cap for altcoins.
P.S. I see a lot of altcoins with great potential. Would you like me to look into any specific ones for you?
Regards!
Mihai Iacob
The Crypto Market is Approaching Escape Velocity Total Crypto Market Cap - CRYPTOCAP:TOTAL
✅Tags 10 month moving average.
✅14 months into a 29 month bull run timeframe.
🎯You can see where we are now v's last two cycles
(Oct 2016 & Aug 2020).
The road to riches is paved with patience
Donald Trump's Recent Key Statements at Bitcoin Conference in Nashville
1. Vowed to hodl the 210,000 BTC held by U.S. Government and use it as a strategic reserve to back the U.S. dollar.
2. Promised bitcoin miners that by the end of his presidency, they would enjoy access to the cheapest energy in the world (presumably to encourage miners to the U.S. and to make the U.S. key to the Bitcoin infrastructure and a main holder of the asset in the world).
3. Trump promised to protect the right to self custody and to establish an bitcoin presidential advisory council.
4. He promised there would be no U.S. Central Bank Digital Currency (CBDC) on his watch.
5. He vowed to free the silk road creator Ross Ulbricht who is currently serving a double life sentence in a Federal Prison for his involvement as founder of the silk road platform (which sold illegal items via CRYPTOCAP:BTC transactions and was shut down in Nov 2014). Ross was aged 30 at the time, and is now 40 and served 10 years jail time for setting up an illegal internet enterprise system.
6. Trump pledged to fire Gary Genlser on day 1 of his term.... Gary is the Chairman of the Securities Exchange Commission (SEC) and has been a major obstacle to crypto acceptance and arguably illegal obstructive towards the approval ETF's, to the point an U.S. federal judge stated the following:
" the SEC's reasons for denying an application by Grayscale Investments to list a bitcoin spot ETF were "arbitrary and capricious" and in violation of federal administrative law."
Final Note
Obviously, all of the above is incredibly bullish, however it also hinges on Donald Trump being elected. Whilst this appears to be a certainty, recent events could have altered history. Just something to keep in mind.
At present, the chart looks incredibly bullish and like we are entering the most bullish period in crypto based on last cycles. Hang onto your handle bars, things look like they are about to really kick off.
PUKA
TOTAL primed for the biggest downfall (Monthly)This chart says it all. Brace yourselves. This "bullmarket" was just a retrace. Didn't feel finished at all when BTC hit 15K. Also the S&P looks topped out and the USDT.D chart on a monthly scale suggests that there is a lot of pain coming.
Let us not unsee the huge divergence on the monthly RSI.
Microstrategy Inc. The Money SongMicroStrategy, the largest corporate holder of bitcoin, announced a 10-for-1 stock split on Thursday.
The company said the shares will be split into class A common stock and class B common stock “to make MicroStrategy’s stock more accessible to investors and employees.” The move comes amid a lull for the price of bitcoin, which has been stuck in a tight range since about March, but which many investors expect to rebound in the second half of the year.
The shares rose about 6% but are currently about 34% off an all-time high of $1,999.99, reached in March of this year.
In technical terms Microstrategy tripled in price over the past 12 months and doubled in price in 2024, outperforming the major crypto assets like BTC, ETH, and Total crypto market cap as well.
The main technical graph indicates perhaps it has much more to deliver.
//
Money talks
Money shouts
Don't take much to hear
Like it or not
You need a lot
If you're gonna make a life down here
BITCOIN VS ALTCOINS Since the beginning of 2023 BITCOIN has been on a relentless upward trajectory. As the highest market cap cryptocurrency it often sets the tone for the entire market. When Bitcoin goes up it tends to drag the rest of the market up with it and the same when Bitcoin falls is the general rule of thumb.
This post is to showcase the difference between Bitcoins market cap (TOTAL) Vs the Altcoin market cap which excludes Bitcoin and Ethereum (TOTAL3) . As the market leader Bitcoin is often the first mover and that can be seen in the chart on the left, we have at first glass a mirror image on the TOTAL3 chart on the right but with a few key differences:
- When Bitcoin fell from its ATH in November, price found it's bottom at the previous cycles ATH as seen by the blue horizontal ray. Whereas the altcoin market continued to drop below its previous ATH by another 19.67% . It's an important difference because it shows that altcoins are worse off in a bear market when compared to Bitcoin, and they start from further back once the Bullrun arrives.
- We can see that both charts are very similar, the next biggest difference is clearly the progression made in this Bullrun so far. Bitcoin has already moved past its "right shoulder" of the head and shoulders price pattern, TOTAL3 however is still some ways off that mark, the chart shows altcoins have a 38% gap between current level and the top of that "right shoulder" .
The reason for the gap in the race can be explained the same way each cycle because they're exactly the same patterns each cycle. Bitcoin is the first mover as it is the biggest by market cap, the same cycle of capital injection happens each and every time:
BITCOIN ----> LARGE CAPS ----> MID CAPS ----> SMALL CAPS
Profits get rotated into the next more risky investment over and over until the blow off top and retail are left holding their positions all the way down. This will most likely still be the case this cycle however there is a new player on the field...
BTC ETF's...
This is new and exclusive to this cycle and I believe this will partly change the dynamic of the cycle when compared to years gone by. With over $10 BILLION DOLLARS of net inflows into BTC the institutional buyers are now here in a much bigger way than ever before, how will this disrupt the money flow? It could prevent profits from rotating somewhat into the large caps, but not completely. Naturally the ETF providers will have a large stake in the holding of BITCOIN and are going to be less inclined to sell when the cycle looks to near its end as they are still providing the service to their customers. Having less sellside pressure will help BTC hold its value.
The altcoins may get the negative side of this as less profits in theory will rotate into smaller cap coins and result in a smaller 'Altseason" . This is the cost of institutional adoption. There is always the possibility of altcoin ETF's but that is another discussion. For now I can see altcoins playing catch up later this year and going into 2025.
Mt. Gox Repayment Plan Brings BTC to 125-Day SMA's OpportunityMt. Gox, which once accounted for roughly 70% of the world's bitcoin trading, was hacked multiple times between 2011 and 2014 and thousands of bitcoins went missing, setting off a long process of customers trying to get their crypto or money back. The exchange declared bankruptcy in 2014.
The long-awaited distribution of Mt. Gox customer funds comes after years of delays. However, Rehabilitation Trustee Nobuaki Kobayashi stated that preparations for these repayments are well underway, ensuring all necessary safety measures are in place before the distribution commences.
The correction in BTC price extended on June 24 due to bearish sentiment arising from defunct crypto exchange Mt. Gox’s plan to return over 140,000 BTC to victims of a 2014 hack, with repayments set to begin in July.
More than $9.4 billion worth of Bitcoin is owed to approximately 127,000 creditors of Mt. Gox, who have been waiting for over ten years to recover their funds. Since Bitcoin’s price has risen more than 8,000% since 2014, this could introduce significant selling pressure for BTC. Some of these investors, who may have millions in profits, may decide to cash in at current rates.
Meanwhile, in technical terms BTC just dropped to it's significant 3-months support level that is corresponds also with 125-Day SMA.
BTC has been last seen at 125-day SMA 9 months ago only, in mid-October 2023, near $ 28000 level.
In that time SMA support helped to deliver BTC up roughly +160%, less than in a half-a-year.
Technical graph indicates also on huge oversold area for RSI indicator, that just turned to one of its lowest readings over the past 12 months.
Cryptocap Crypto Total Market Cap - Idea IHey guys
2023 printed a bullish setup - retest of old high.
-> it also closed above the middle line of the bearish engulfing candle -> second bullish indicator.
-> grey zone and old highs of 2.1T - 3T will be monitored.
-> still somewhat bearish below 3.1
Quarterly: Neutral - Inside bar and retesting middle line of Q1
-> still in bullish territory because it closed above major support…
-> inside Bar will be monitored (range)
Monthly chart: Bearish close -> 3 Months weakness
-> Stochastic turned down - 2.4T and 2T will be the showdown area - grey Box which will act as support or resistance.
-> still in an uptrend indicated by the rising Trendline.
3D: Testing a bullish Trendline - Bullish Setup on this Frame
-> still in a declining trendline / Consolidation
Thanks for reading
$TOTAL is flerting with important Fibonacci Circle resistenceAfter a fake breakout from important Fibonacci Circle resistence and a fake breakout from the downward blue continuous line, CRYPTOCAP:TOTAL is trying to find now support over the daily 200 EMA (green line) that coincides exactaly over an important VWAP reset line
If prices continue to fall, a very important support will be over the market "Support Box"
Once the price breakout from the red Fib Circle, market will continue its move upward
Chart Idea - TOTALWaiting for this inverse head n shoulder to playout. In order for BTC to move further up and liquidate more shorts, TOTAL needs to break the neck line of this inverse head n shoulder pattern. We will see BTC going down again if it gets rejected from here. Will keep on updating here.
Elliot Wave 3-4 : FINAL Correction before NEW ATHI've been watching this bearish M-Pattern for some time, and I still believe this is a multi-month playout towards a new ATH:
This lines up with my initial correction target using Elliot Wave Theory:
We see a very clear Double Top play out in the Total Chart, also indicating that it's time for a correction:
HOWEVER - I expect the bulls to be ready and sweep in lower prices when the right support zone is reach (whale zone), which seems likely to be in the 40k zone. It won't be a straight line down - again, a multi-month playout is likely.
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CRYPTOCAP:TOTAL BINANCE:BTCUSDT