Altcoins Local Bottom? Think Again(Opinion)
A local floor may be forming in the altcoin market.
CM_Williams_Vix_Fix_Finds Market Bottoms Indicator is starting to form one on the 1-hour. This may be short lived though.
The DXY still have room to move upward after its first few hours being open. This could potentially push the TOTAL / TOTAL2 down further.
4-hour charts for the TOTAL / TOTAL2 also have much room for a continued move down if we break this support level.
Bulls beware. It's going to be an intense week with the FOMC meeting on the 13th & 14th.
TOTAL2 trade ideas
ALTCOINS Watch alts explode in 2023 if Dollar moves lowerThe chart is pretty self-explanatory. The Crypto Total Market Cap (top chart), which is the market cap excluding Bitcoin has had strong expansion periods when the DXY (bottom chart) was on a downtrend. The pattern behaviour before and after those periods seem to be consistent between them.
Now the DXY had a major rejection on a Higher Highs Resistance that goes back to March 2015. The parabolic channel before that seems consistent with the one in 2016. If we get a similar downtrend channel to the 90.000 Support similar to 2017, when expect the alts to explode in a major alt season.
Follow us, like the idea and leave a comment below!!
Altcoins channel cross⭐️occurred as predicted in November🚨🚨🚨Altcoins channel cross⭐️occurred as predicted in November🚨🚨🚨
A channel cross can signal the "bottom is in" since we saw lowest low in the red main bear run
We are now in the gray accumulation phase
Let me know your thoughts in the comments🤗
⬇️⬇️⬇️
Likes and Follow for updates appreciated🤗
Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
$TOTAL2keep tracking this once a month played out as expected but not the path to the T
at present bouncing from a key support on HTF reclaiming 200 should kick it up to the 50 ema
most likely chop in this zone till sep 2023 before a dip then rip .
lets check back in a bit...
key meetings coming up on the 9th and 13th so expect movement there
Total2 analysisIf you have seen my previous analysis about the totals that I put in the caption, you will understand that I predicted this fall in the total market and now we are returning to the pivot and we have also formed a low falling pattern that indicates a fall. The fact that there are total altcoins means that there is going to be a crash, when money comes out of altcoins and the whales are at the bottom of the bitcoin price. save more bitcoins and then we will see an increase in the price of bitcoins up to $28,000
Total 2 Marketcap bullish ?Lets take a look at Total Marketcap minus bitcoin Looks like a local bottom has been reached on Hr4 IHAS shape, Looking like support/resistance flip of a clear supply zone as highlighted in red Should lead to a relief rally on alts the next few weeks Any pumps and you should STILL be taking profits Still should be considered a bear market rally on MACRO IMO.. $BTC $CRYPTO
TOTAL ALTS ; WEVE MOVED!! update ; flip bull?yo yo we finally made some sorta move.
decided to clear this up a bit. these two macro fractals both kinda make sense.. we'll get a clear invalidation of one of them in a few days. lambos or traps?
i have no frigin idea which one but i bet one of them plays and it becomes more clear very soon.
regardless we prob have a few more days of UP to get everyone nice and semi hard again.
gl degens
Wyckoff Accumulation - Total Marketcap (without Bitcoin)Real nice example of wyckoff accumulation here on the TOTAL2 chart. This is the total market cap without Bitcoin , though all of these charts have a similar style accumulation range, BTC being the most effected by the FTX event.
We have broken the supply line and regained support above critical levels after the spring event.
I also notice there is a new gap in the ichimoku cloud , that could be the targeted path for the impulsive "Sign of Strength" move, provided we maintain control of the range lows.
I think Litecoin is an early mover, possibly offering incite as to what we could expect next should this play out in this fashion.
Hope every ones doing well, more updates coming soon.
ALT COINS - STILL A LONG WAY TO GO DOWNAlt coins are hanging on to their last line of support. I think that pretty much all alt coins will at least fall another 50% from current prices. If this does play out Im going to look to enter the market when the alt coin market is around 250B.
Thanks for viewing my post.
Not financial advice.
Overlay of 2018 Altcoin bearmarket and now (monthly - weekly)I overlayed the bear market accumulation pattern of 2018 - 2020 for the Altcoin market cap on the accumulation pattern we're in now (Jun - Nov 2022).
(The accumulation pattern of 2018 in monthly candles look even more similar to the weekly candles of the accumulation pattern of today.)
Moving very similarly, the RSI supports the idea of continued correlation. This would mean an end to the bear market and a new bull market ahead.
Very important levelI personally believe this level is going to hold and we’ll experience some squeeze from here in upcoming weeks if any other exchange bankruptcy news wouldn’t make more FUD.No one can predict the news but in my opinion this is the level we gonna bounce probably.not a financial advise.
Lets see how its gonna be…always a student.
TOTAL2 - Developing the Bottom Structure Plotting a bottom along the 4.618 of a strong downtrend Fib Circle
As you can see the price is moving along this thicker green line
I expect the second bottom to occur and consequently a double bottom occurring
Following this double bottom a rise is in order
This is a complementary post to the one below
Crypto Total Market Cap.I think this is a great tool to help nevigate ones Dovish and Hawkish periods in the crypto sphere, hence shouldn't be ignored. Well I don't think we will be hitting 1T very soon, but much later in the future we will sure surpass that level.
Considering inflation rampaging the world, investors are scared of investing and also confused as to what time would be best to get back into the market. On the current move BTC will hit 942B which is very likely.
Total2 ABC Pattern Goes On!As shown on the chart, The Total 2 Chart (Alt-Coins) has a Clean Break-out from 0-B Downward Trendline and after that Breaks the Local High and confirm it with a Clean Pull-Back!
Now The ABC Scenario is the most Likely Scenario to Play Out. at This Moment there is not a great chance for long positions but you can wait for a correction as Leg-B on shown Fibonacci Levels and Fill Your Bags with Crypto to Roll the C - Leg upward movement which will be massive and great Play.
Don't Get into FOMO in these days because it will cause you a loss in your budget but stay in touch and watch the trend for a great buy chance in near futures.