ALT M.CAP: JUST DID A RETEST! HODL YOUR ALTCOIN BAG!!Hey everyone!
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What is Total3?
Total3 refers to the total market capitalization of all cryptocurrencies except for Bitcoin (BTC) and Ethereum (ETH). It provides a clearer picture of the overall market health of altcoins, excluding the influence of the two largest cryptocurrencies.
Now, let’s analyze its chart.
If you're worried about the recent dip in altcoins, take a look at this chart. Total3 has broken out from a bull flag on the daily time frame and is currently retesting that flag. If it holds at this retest level, we can expect another bullish rally in altcoins soon.
Don’t be scared by negative news like the war; such situations are temporary, and the market has rebounded many times in the past. Use this dip as an opportunity to dollar-cost average (DCA) into your altcoin positions. If you've already accumulated, just hold patiently.
What are your thoughts on Total3's current price action? Do you see a bullish pattern developing? Share your analysis in the comments below!
TOTAL3 trade ideas
Uptober Mode? - Will We See the Big Breakout?
📈🔥 Altcoins Ready for Uptober? 60% Breakout Probable! 🚀💥
It's been just 11 days since my last post, with TOTAL3 sitting at $584B. Now, as we step into October (or should we say "Uptober"?), the market cap has surged to $629B—almost 8% higher!
The chart is signaling a potential breakout at the $645B level, with a 60% probability given the current macroeconomic factors, including easing from China and potential interest rate cuts from the Fed. However, there are alternative scenarios: a 20% chance for sideways movement and another 20% for a drop back to $592B support.
This could be a pivotal moment for altcoins. What do you think? Let’s make the most of this exciting month!
One Love,
The FXPROFESSOR 💙
Big chart and previous (well timesd) breakout post here:
TOTAL3 is time to continue push UP 1. Cup and Handle Pattern:
The highlighted region resembles a cup and handle pattern, which is generally considered a bullish continuation pattern.
The cup part spans from around mid-2021 to mid-2023, while the handle is forming after the cup's completion, indicating potential consolidation before a breakout.
The rounding bottom of the cup shows accumulation after a downtrend, signaling a reversal in trend.
2. Breakout Target (1.618 Fibonacci Extension):
The projected target is marked with a 1.618 Fibonacci extension, a common tool used to predict possible upside after a breakout. This level is approximately 1.618 trillion USD.
The price has already started moving upwards after the handle formation, suggesting a breakout might be underway.
3. Current Market Situation:
As of the latest candle in the chart, the total market cap excluding BTC and ETH is sitting at 634.208B USD.
There’s a notable surge of about +12.91% in the current period, which aligns with the idea of bullish momentum taking over after the handle's formation.
4. Bullish Flag (Handle):
The handle portion seems to form a bullish flag, which is a continuation pattern that confirms the overall uptrend.
Once the price breaks the handle's resistance, the expectation is a rapid increase in market cap, potentially reaching the target shown.
Conclusion:
The chart indicates a bullish outlook for the altcoin market (excluding BTC and ETH).
The cup and handle pattern is one of the strongest continuation patterns, and with the market currently showing signs of strength, a breakout could take the market cap towards the 1.618 trillion USD target if the current trend persists.
However, be mindful of market sentiment and global macroeconomic factors that can affect crypto markets.
TOTAL 3 BULL CYCLE BEGINSTotal 3 recently broke a downtrend and now it's ready to grow. If you are scalper or 3 minute trader, this information is not going to be usefull for you. All you can use from this map is bias, which is bullish at the this very moment.
For all the others who invest in a smart way;
Next fall of Bitcoin will not be as expected. From this day forward, if you see any crash on market just know that it's a buy opportunity.
Invest in projects that can gain value, not old projects that already hyped and died long ago (Like OP, DOT, EGLD.. Ect.)
If you are using leverage, either from here or in next crash use only 2 X in isolated mode.
Mark your TP for higher targets and think big.
I market Total 3's targets on the chart. Every fib zone in this area is a resistence for altcoins. It doesn't matter which one you have (ecxept ETH), it will work just fine.
Wait for a correction and find strong projects like SOL, BNB, Render, Near Ect..
Do not invest shitcoins or whatever your friend suggested you to invest.
TOTAL3-USDT - RISK ON - ALTSEASON IS HERE!This will be the most important Weekly Close of the cycle for Altcoins.
TOTAL3-USDT has shown a “3 White Soldiers” pattern and broken out of its Bull Pennant and Bull Market Support Band.
RSI has also flipped bullish.
The last time this happened Q4 2020, Alts ripped ~1,100% over a 1 year period.
This rally has been fueled by the Fed announcing a massive 50 Bps Rate Cut, with PBOC doing the same shortly after.
More rate cuts are expected November 6th and December 17th to push risk even further.
Get ready for all your normie friends to start messaging you asking for crypto advice.
I personally have experienced this the past week.
Altcoin Market Breaking Out: Bull-Flag!Altcoins have been steadily losing value against BTC ever since the March top. However, TOTAL3 (total marketcap minus BTC+ETH marketcap) has finally broken out of a 6-month bearish channel pattern, making it a successful bull-flag break out.
It's too early to call for a definitive continuation of the trend, but at least a major long-term pattern has changed as of this week.
For now, I'm hoping for a move towards the yellow line, being the 2024 top. With a BTC Dominance at 57.5%, it would most likely lead to a new BTC all-time high if the altcoin market reaches the 2024 top.
Potentially exciting times ahead!
Altcoins About To ExplodeTotal 3 represents the total market cap of crypto, excluding Bitcoin and Ethereum. As you can see, it's still about 50% below its 2021 highs, despite the addition of millions of new coins. If you’re into charting metrics like this (even though it’s not a traded asset), you can spot a potential weekly breakout forming.
As I’ve been saying, the last six months have been completely avoidable for altcoins. Nobody wanted to hear it, we lost subscribers, and I wasn’t sharing many charts. But if you’re a trader, you know that sometimes doing nothing is a valid strategy.
Now, it looks like the time to stop sitting on your hands has arrived. I’m getting bullish on altcoins—and this aligns perfectly with the halving cycle I’ve been talking about for ages.
TOTAL3 8H update - Sep 23 2024Following previous analysis, #TOTAL3 rose towards the resistance zone and after touching the 580B level, it started to drop but FED's decision to cut the rates by 0.5% prevented further drop and market pumped as analyzed before FED's meeting.
TOTAL3 is now in the vicinity of the mid-term trendline and we can expect some drop during this week. What comes next with TOTAL3 is most probably a rise towards 650B level and then 700B zone.
This means many coins are going to touch higher levels soon.
As long as the drawn blue trendline isn't broken, this analysis is valid.
Altcoins (TOTAL3) – Breakout Imminent After Fed Rate Cut?About TOTAL3: TOTAL3 tracks the market cap of all altcoins excluding Bitcoin and Ethereum. As the Fed slashed rates by 50 basis points, liquidity is moving into riskier assets, especially altcoins, which are poised for a breakout.
Impact of Rate Cuts: Lower rates mean greater liquidity in the market. Investors are looking for high-growth potential, and altcoins are at the forefront. Historically, easing financial conditions favor speculative assets, making altcoins a solid bet in the coming months.
Entry Point: TOTAL3 sits near $600 billion, just above strong support around $580 billion. A move above the breakout level at $939 billion could set the stage for a massive bull run, with a primary target of $1 trillion and a maximal extension around $1.384 trillion.
📊 Technical Levels:
Support: $580 billion
Breakout Level: $939 billion
Primary Objective: $1 trillion
Maximal Extension: $1.384 trillion
A breakout from the current consolidation could see TOTAL3 surge in line with broader altcoin momentum. The Fed’s rate cuts further enhance the bullish case for altcoins, making this an exciting time to be in the market.
If you like altcoins, perhaps it’s time to diversify with AI + Crypto unicorns like CRGPT.
One Love,
The FXPROFESSOR 💙