SHOULD YOU HOLD ALTS OR NOT? ALT M.CAP UPDATE!!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this ALT MARKET CAP(TOTAL2) trade setup. Alt market cap looks fine as of now.
Alt market cap is moving inside a descending triangle which is a bearish pattern. Currently, the alt market cap is trading near the lower trendline of the triangle. So I'm expecting two scenarios here:-
Scenario1:- According to the first scenario, we can see some bounce in altcoins, and the alt market cap can reach up to $1.04T level and reject from there. Once it breaks below the triangle then the next support it at $800B
Scenario2:- If we did not get a bounce from the lower trendline and if it breaks below the triangle then it will dump.
Conclusion:- If you are holding any Alts on spot then I recommend you to exit after a bounce in alt market cap till $1.04T level or if it breaks below the triangle from here then exit immediately.
INVALIDATION LEVEL:- If the alt market cap breaks above the triangle then this chart becomes invalid.
What do you think about this?
Should we hold our altcoin bags or not?
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TOTAL2 trade ideas
Clear continuation of down trendAs shown few days ago on USDT.D chart we were right at the trend line and clearly seen today already moved back up. That is reflected in alts following same patter and returning to down trend off its own trend line. Do not let Youtube fool you, altseason isn't coming, BTC isn't decoupling from equities. We are and were in bear market for a good while now, always best to be unbiased and take the data that is in front of us. There is nothing in global economic setup that can be seen as positive right now, nor changing in the immediate future and markets are quite jittery overreacting to any little piece of news regarding US int rates or Russia/Ukraine conflict. Even with short bursts to the upside the general direction remains bearish.
Lower lows to be expected on all crypto charts.
TOTAL M.CAP ANALYSIS! MUST BOUNCE FROM HERE!!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this Total M.cap update. The total market cap looks good here and should bounce from here. Currently, Total M.cap is trading at around $1.05T
The total market cap breaks out from the 64days old trendline (purple line) and currently, it is retesting. After this retest, I'm expecting a good bounce in the whole market.
Also, at this level 100ma support is strong support so it must hold at this level and should bounce from here.
Invalidation level:- If any candle closes below $950B then this chart becomes invalid.
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TOTAL2The fundamental narrative has never been stronger, with increasingly chaotic conditions globally, tensions from pandemic residue supplychain, global monetary policy issues driven by the unattended climate change issue which by all scientific evidence is going to accellerate in intensity and frequency.
Humans are going to have to rely on cloud computing and networks more and more; smaller nations/economies going to be more greatly effected by these disasters just given scale of landmass/ less ability to economically absorb natural disasters.
Also war is back on the public stage, Ukraine was taking crypto donations before they were able to organise a mechanism to donate fiat
Ukrainians who evacuated early but whos bank cards/credit cards dont work anymore, the russian rouble down a massive amount in a tiny space of time
Climate events will also unfortunately drive tregion tensions resulting in more neighbouring country clashes over reasources, these events again impact a countries ability to manage their own fiatcurrency.
All very good reasons to want to have some of your net worth in a decenteralized monetary system which as yet has proven resillient from goverment intervention beyond blocking civillian accsess locally (vpn can fix this quite easilly I believe.)
Beyond all that innovation in crypto is also at an alltimehigh, with better ideas, more robustly structured projects coming out after years of trial and error.
Pretty sure total2 is going to continue on this logscale trend for a while tbh.
ALTS MARKET CAP ANALYSIS Welcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
I have tried my best to bring the best possible outcome in this chart.
As we can see in the chart total market cap makes this descending channel pattern and Breakout the upper residence but for confirmation, we need to close the daily candle upside to the upper resistance of the channel.
so let's wait and see how the daily candle closes.
What's your thought on this?
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total analysisWHAT IS A DOUBLE BOTTOM?
The double bottom pattern entails two low points forming near a similar horizontal price level and signifies a potential bullish reversal signal. A measured strengthening in price will occur between the two low points showing some support at the price lows.
The double bottom chart pattern is found at the end of a downtrend and resembles the letter "W"(see chart below). Price falls to a new low and then rallies slightly higher before returning to the new low. Unable to push price to a new lower low to continue the downtrend, sellers give up and price bounces sharply from this area.The bullish confirmation is specified by a break in the key price level situated at the high point between the ‘bottoms’ resistance level (neckline).
TOTAL MARKET CAP WEEKLY UPDATE! MUST BOUNCE FROM HERE!!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this Total market cap update. Total market cap is reaching at very important support level.
In the weekly time frame, it is trading inside a rising channel and currently near the lower trendline of this wedge.
Also, a bullish divergence occurs in the weekly time frame. So overall it must bounce from here.
If we break below this wedge then it can dump to $670B that means we see BTC at $28k if this happens. So keep an eye on this level.
Supports:- $960B/$670B
Resistances:- $1.14T/$1.5T
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TOTAL M.CAP UPDATE! BULLISH IN LTF!!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this Total market cap update. Total market cap looks bullish in LTF.
It is making a bull flag like structure in 4hr time frame. If it breaks out from this bull flag then we see a good pump in whole market.
Invalidation level:- If any 4hr candle close below $1T then this bull flag become invalid.
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