Totalmarketcap
📉💡 TOTAL Market Retracement Analysis 💡📉📊 Market Overview:
Recent Movement: The TOTAL cryptocurrency market capitalization has experienced a retracement from approximately $2.6 trillion to $2.35 trillion before rebounding briefly and encountering resistance at the $2.5 trillion level.
Current Trend: Despite the bounce, there's a risk of further downside if the daily support line around $2.35 trillion is breached.
📉 Potential Scenarios:
Breakdown Scenario: If the support at $2.35 trillion is breached:
Downside Targets: Look for potential support zones at $2.10 trillion - $2.20 trillion and $1.80 trillion - $1.90 trillion.
Impact on Altcoins: A market retracement could lead to bearish sentiment for altcoins, potentially resulting in further declines.
Recovery Scenario: If the support holds and the market rebounds:
Upside Potential: Anticipate a potential return to previous levels or higher.
Altcoin Resilience: A successful rebound could stabilize altcoin prices and restore confidence in the market.
💼 Risk Management:
Monitoring Support Levels: Keep a close eye on the $2.35 trillion support level and be prepared to adjust strategies accordingly based on price action.
Managing Positions: Consider implementing risk management strategies such as stop-loss orders to protect against adverse price movements.
Market Sentiment: Stay informed about market sentiment and monitor key indicators for signs of potential trend reversals.
📈💰 Trade Responsibly: Stay cautious and adapt to changing market conditions. Managing risk effectively is crucial in navigating volatile market environments. 📉💡 #TOTAL #MarketAnalysis 🚀📊
Altcoins Excluding BTC and ETH Surge: Navigating Key Levels Towa🚀🌟 Altcoins Excluding BTC and ETH Surge: Navigating Key Levels Towards $1.2 Trillion 💹🔝
Time to dive into the dynamic world of altcoins, focusing on the "Total 3" market cap which excludes Bitcoin (BTC) and Ethereum (ETH). This segment of the crypto market has shown remarkable performance, especially after breaking free from a significant yellow descending channel. This breakout was a clear signal of a burgeoning bull run. From a market cap of $352 billion, we've witnessed a climb to $254 billion. But the journey doesn't stop here.
Two pivotal levels stand out in this upward trajectory. Firstly, the $697 billion mark serves as our trend line support. Ascending further, the $938 billion level emerges as the next crucial resistance point. The potential to breach the $1 trillion ceiling is within grasp, aiming for a blue-sky target of $1.2 trillion. This ambitious goal underscores the bullish sentiment permeating the altcoin market.
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As we continue to chart the course of the Total 3 altcoins market, my analysis remains a steadfast guide on TradingView. The accuracy and foresight demonstrated thus far bolster confidence in the continued relevance and success of these insights.
Stay tuned for more updates and analyses that help navigate these exciting times in the crypto market. Remember, the journey towards understanding and capitalizing on these shifts is ongoing, and I'm here to guide you through each step.
One Love,
The FXPROFESSOR 💙
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TOTAL Crypto Market Cap update
In Feb, 2021, while enroute to the 1st ATH that year, The TOTAL chart saw a -29% pull back that had many questioning if that was it for the season.
This happened after a Sharp push up after PA had ranged for a while at the end of the previous Year. Some noted at the time, that the MACD was not oversold yet and so a potential for more existed.
That pull back lasted for 7 days and then took off again.
Could we be about to see the same now ?
The Scales are larger right now. For instance, the range at the beginning of this year lasted 8 weeks, compared to the 4 in 2020. We also have the added Value of ETF entering the market and they may not sell off as quickly. We are also in the 2nd week of pull back right now.
We are also finding support on that line of "Danger Zone" I placed on this chart months ago.
A few things to note here, that Kind of contradict each other.
Look at this MACD chart - The Vertical line on the left is where the -29% pull back took place
The Horizontal line is where that date intersected the MACD - See how much further it went up. To the ATH 10 weeks later.
We are currently slightly above that line, with the signal line a similar distance below.
This points towards MORE upside being possable.
BUT, Look at this RSI
The same vertical shows the retrace in 2021, Note how the RSI and the MA of that RSI are crossing at this point.
Now see where we are today. RSI is alreadi oversold and Falling back towards the MA.
This is BEARISH. Look back and see what happened in 2021 when the RSI crossed the MA while dropping.
So we have a story of 2 halves here. Signals pointing in both directions.
Should TOTAL drop that -29%, it does take us to a strong line of support, there is little doubt about that and if we are to reach the expect highs in Early 2025, and maybe more later that year, then we do need to reset to this level to cool off MACD, RSI etc.
As mentioned in other posts, the DMI is also showing change coming but we do not yet know in which direction.
So, Trade with sense, be cautious untill we seea set direction.
Bitcoin and Crypto Market Selloff Analysis (Buy Now or Wait?)On the one hand, this was a needed mini selloff, likely liquidating more leverage out of the system and resetting funding rates.
BTC trying to hold $68k and ETF money still goes brrr...
Will money flow slow, or we get another big push up Monday?
Lots of buy order blocks around $60k up to GETTEX:64K and the crypto day traders are shorting now with that target in mind.
I do expect resistance at the former Market Cycle (Total Market Cap) at $3T.
At least many altcoins are holding here at their 21 day EMA's.
Also a few standouts looking good here for DCA buying.
What do you think?
Crypto Market: Is the Bubble Bursting or the Bull Run Ongoing?The total market capitalization of the crypto market increasingly seems like we might soon see a reversal for Wave 3, as there isn't much room left for upward movement. We would reach the all-time high in market capitalization just above the 361% extension for Wave 3. Thus, we don't believe there can be much further upward movement. Afterward, we should see a significant decline, potentially into the target area of Wave (B). We're not trading this directly; it's included purely as support for our analysis. Then, we'll look to develop Wave (1) further and see one final push. We're essentially anticipating that after this downturn in market capitalization for Wave 4, we might see a surge in altcoins before a more significant and prolonged correction downward for the overarching Wave (2). It's important to remember that we are in an overarching Wave III, indicating significantly rising prices in the future.
⚠️ Market Overview - TOTAL Cryptocurrency Market Cap ⚠️📊 Analysis:
Current Level: TOTAL (Cryptocurrency Market Cap) is at a level last seen towards the end of the last bull run.
Resistance Zone: Currently in the $2.50T - $2.67T area of resistance, and it's extremely overbought.
BTC in Price Discovery: BTC is in price discovery, and uncertainty exists regarding how high it might go.
Risk Management: Traders need to be cautious and manage their risk tightly over the next couple of days.
Next Resistance: If $2.67T is breached, the next resistance is the November 2021 all-time high of $3T.
Potential Support: A rejection could lead to a test of the next area of support at $2.05T - $2.17T.
🌐 Note: Market dynamics can change rapidly. Stay informed about the overall market sentiment and be ready to adapt your strategy accordingly.
Total market cap
This analysis is grounded solely in the data, timeframes, percentages, and ratios observed during the previous bull run. While acknowledging that an 11 trillion valuation may not seem realistic, the possibility becomes more conceivable with the entry of BlackRock and numerous other significant companies into the market. This could potentially reshape the landscape and lead to unprecedented growth.
Total Crypto Marketcap --- PLan Your Exit#TOTAL Crypto has already doubled from it's bear bottom, to it's most recent high.
We are almost in 2024, well into crypto summer now
time is really running out to prepare your portfolio for the inevitable Bull market euphoria phase.
I bring this chart up just to remind everyone, that this cycle has potential to be one of the worst in terms of multiple expansions we have seen so far.
We have gone from exploding 340X in one cycle.. to 33X the last cycle.
I expect this time round it will be a single digit multiplier.
We have to hope and pray we do indeed break the previous ATH , and we don't double top at 3 trillion.. of which there is no guarantee!
My realistic target is around 5 Trillion Dollars, which may sound pessimistic at only 3.5X from here ... but that means your Altcoins adding at least a Trillion dollars of value from here!
Optimistically i'm looking at around 7 trillion dollars, no mean feat!
BTC.d at 30% would equal BTC 2.1 Trillion or $110k per coin.
Long Term Crypto Market Cap PredictionThis is my quick but accurate ;) crypto market cap prediction for the long term.
My target for the current bull run is a 6-8 trillion $ market cap by the end of 2024. When we reach this region/area, I will be taking significant profits and looking towards the next phase in 2026/27.
Bitcoin 2020 Recent High Break Out Vs Present Bitcoin - Not A Prediction
An interesting comparison to the price action that took place in Nov 2020 (post May 2020 halving)
On one serious note, it reinforces just how important the 21 Day Moving Average is. If lost, we can expect at minimum ST pull back.
#bitcoin CRYPTOCAP:BTC
A quick reminder about the previous Wedge/Pennant on Total chartSo I started charting this pattern in 2022 it was a falling wedge but on even larger time frames I realized it was not just a falling wedge but a bullish pennant as well. We broke up from this pattern all the way back at the beginning of 2023 and as you can see here on the monthly chart, price action did what it usually does once it breaks up from a large timeframe wedge and we are already well on our way and have unquestionably validated its breakout. What struck me as astonishing about ths pattern was that its measured move target was all the way up around 17 trillion. However not long after charting the target, maybe a couple months at most, news broke I think possibly via Forbes that Black Roc was saying 15 trillion in liquidity was going to be soon flooding into the crypto markets. When I read this it suddenly made the 17 trillion target make perfect sense. Now that we are seeing these ETFs cause huge pumps week after week I wanted to kind of repost a slightly cleaned up rendition of the previous version of this chart I posted to make it slightly easier to keep an eye on price action as it continues its way towards such a massive target. Also to remind people that this is where we are heading. Interestingly enough, another bull pennant we broke up from on the larger timeframe logarithmic chart also had this exact same target as its full measured move. So I suppose there is a chance that since it will take 2-3 bull markets for that previous bull pennant tor each its fulll target tat ts possible for this current pennant to not reach its full target in the current bull run but instead the very next one. However at the parabolic pace and momentum we are starting to gain thanks to spot etfs, it’s very very plausible we can reach 17 trillion on the current bull run. I will be keepin a close eye on this target, the pi cycle top indicator, and my pitchfork of channels that tie multiple cycles tops and bottoms together for the best signal of when the top is truly in. *not financial advice*
The 1 month Linear Chart’s wedge target is nearing I just recently posted about the logarithmic wedge which is also a bullish pennant and how it will take us much higher, but also wanted to post a chart with an update of the other wedge we also broke up from back at the beginning of 2023 (shown here in pink). It has now been a little over a year since the breakout of this monthly time frame pattern and like clockwork the price is doing exactly what I had anticipated it eventually would all the way back then. We can see price is now nearing the wedge target of 2.493 trillion for the total crypto market cap. This is the next zone to watch where we could potentially experience some sort of correction after reaching. I went ahead and also included the flagpole of a pennant that is better visualized on the weekly chart and it is telling us that eventually we should also reach its target of 3.436trillion as well. Odds are very good we will see consolidation in between the 2 targets. Being a 1month pattern, that is why it took so many multiple months to get close to reaching this first target, and it can also take several more months before reaching the next higher target is well even though they both broke out at the same time. Looking forward to pressing play on this chart a few months from now and eyeing the price action inch closer to the top target. *not financial advice*