TOTAL2 trade ideas
Alt-coin market preparing for a 10x moveAmazingly everyone is still bearish. The ideas on Tradingview talk for a 30-40% correction as does much of social media. Popular cypto Youtube channels share a similar narrative. Terrific stuff.
As a contrarian my opinion is very different from the crowd. Whether that be stocks or crypto. Am certainly walking in the opposite direction from everyone else.
The above 4-day is chart is the Crypto market total without Bitcoin. Some highlights:
1) Price action has broken out of a 2-year resistance trend line.
2) The resistance has now confirmed as support.
3) The green line. This is the GRM. The Golden Ratio Multiplier. When price action closes candle bodies above here, big moves will follow. Just as candle bodies first closed under the GRM back in April 2022. Look left. Big moves come next.
5) The 10x comes from the the wedge breakout. The flag pole is used to measure the market top following a break of past resistance when the 2021 bull market began.
A word of warning. The uptrend will not be equal across all alt-tokens, I'm quite certain of that. Throwing a wide net out across the market will not work as in 2017, you've got to be selective. Chose wisely!
Is it possible the market corrects further? Sure.
Is it probable? No.
Don’t you just love recessions?
Ww
#TOTAL2 Altcoin market capitalization is approaching a strong s#TOTAL2
Altcoin market capitalization is approaching a strong s/r zone👀
This zone is seen as a healthy retest point and expects a bounce from this level📈
It is recommended to wait for the weekly close, as there may be an additional 5-10% decline in altcoin prices☝️
Still have chance for altcoinThere's still a chance for altcoins until mid-2024.
Market makers likely leveraged the Grayscale GBTC sale (to cover debts) to spook new entrants. Meanwhile, some whales are still actively buying large amounts between 41k and 43k.
Now is not the time to sell anything; it's a buying opportunity. Expect a selling wave when BTC reaches 53k again.
Please note that this is not financial advice.
ALTS withstanding the final Resistance before ATH rally.It couldn't be any more simple than that. The altcoin market is having the last short-term correction before an surge past the All Time Highs (ATH). The Pressure Zone 2, which is the Resistance Zone coming off the Bear Cycle's first Lower High, is the last volatility variance and effectively last opportunity to enter before alts start the most aggressive part of the Bull Cycle.
As you can see, they traditional lag behind Bitcoin (BTCUSD), which has already broken past (even marginally) its previous ATH. The pattern is identical to the last Cycle and based on historical behavior, there is no reason to expect something different this time too.
Get ready for a very aggressive Altseason.
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TOTAL2 update; ends sooner than you thinkTOTAL2 update; ends sooner than you think
now some months have passed we can see reasonably clearly where we are at since the last analysis right at the start of the macro move up.
obviously black swan etc can ruin this or it just does it differently this time. prob not though tbh and if there is a black swan id bet its around those dates. the events tend to fit the chart for some odd reason not the other way around.
leaning towards the early version. im seeing mid april on a lot of other fractals. basically double tops or just slightly higher last highs then splat.
or it just keeps marching up and up and we all get raris and citadels.
im good with either.
lfg
gl
ALTcoins May Resume Higher SoonCryptocurrencies slowed down after strong rally into wave 3 of an ongoing five-wave bullish impulse, so current sideways consolidation should be just a correction in wave 4.
BTC dominance is actually still here and Bitcoin can be already progressing wave 5, but that's why ALTcoins are currently slower than BTC.
However, looking at the TOTAL2 Crypto market cap, which excludes Bitcoin, it looks like nice and clean bullish triangle pattern in wave 4 that can be coming to an end with final subwave (E).
So, soon be aware of a bullish resumption within higher degree wave 5 of III, which can push BTC and ALTcoin friends even higher.