TOTAL 15M: Hidden Bullish Divergence on Fake-Out
The Total Crypto Market Cap is displaying a significant technical setup on the 15-minute timeframe. We've observed a hidden bullish divergence forming in conjunction with a false breakout pattern, suggesting strong continuation potential. The market has maintained its structural integrity despite the fake-out attempt, indicating robust underlying strength.
The primary trend direction remains bullish, evidenced by the series of higher lows forming on the 15-minute chart. A notable hidden bullish divergence has emerged between price action and the RSI indicator, where price made higher lows while the RSI showed lower lows - a classic continuation signal in an uptrend. The market's reaction to the false breakout demonstrates strong buying pressure, as prices quickly recovered and resumed the upward trajectory.
Price Targets
Based on the technical structure and the measured move from the pattern:
Initial Target: 3.85T (near-term resistance level)
Secondary Target: 4.0T (psychological round number)
Extended Target: 4.2T (based on previous move projection)
Entry Conditions
Primary entry at current market price (3.51T) following confirmation of hidden divergence
Secondary entry on any pullback to 3.45T support level
Initial Stop Loss: 3.42T (below the recent swing low to protect against further fake-outs)
Take Profit Levels:
TP1: 3.85T (25% position size)
TP2: 4.0T (50% position size)
TP3: 4.2T (remaining position)
Stop Loss Placement: Below the recent swing low to accommodate market volatility
Position Scaling: Consider scaling into the position with 50% at entry, 50% on pullback
Market Conditions to Watch: Bitcoin's price action, as it often leads market direction
Additional Considerations
The presence of a false breakout followed by quick recovery suggests strong underlying buying pressure. The hidden bullish divergence adds significant weight to the continuation thesis, particularly given the overall market strength.
Bullish Case: Maintained as long as price holds above 3.42T with RSI showing positive momentum
Invalidation: A clear break and close below 3.42T would negate the setup
The broader crypto market is showing strength, with major cryptocurrencies maintaining their upward momentum. This macro context supports the bullish continuation scenario for total market capitalization.
The primary trend direction remains bullish, evidenced by the series of higher lows forming on the 15-minute chart. A notable hidden bullish divergence has emerged between price action and the RSI indicator, where price made higher lows while the RSI showed lower lows - a classic continuation signal in an uptrend. The market's reaction to the false breakout demonstrates strong buying pressure, as prices quickly recovered and resumed the upward trajectory.
Price Targets
Based on the technical structure and the measured move from the pattern:
Initial Target: 3.85T (near-term resistance level)
Secondary Target: 4.0T (psychological round number)
Extended Target: 4.2T (based on previous move projection)
Entry Conditions
Primary entry at current market price (3.51T) following confirmation of hidden divergence
Secondary entry on any pullback to 3.45T support level
Initial Stop Loss: 3.42T (below the recent swing low to protect against further fake-outs)
Take Profit Levels:
TP1: 3.85T (25% position size)
TP2: 4.0T (50% position size)
TP3: 4.2T (remaining position)
Stop Loss Placement: Below the recent swing low to accommodate market volatility
Position Scaling: Consider scaling into the position with 50% at entry, 50% on pullback
Market Conditions to Watch: Bitcoin's price action, as it often leads market direction
Additional Considerations
The presence of a false breakout followed by quick recovery suggests strong underlying buying pressure. The hidden bullish divergence adds significant weight to the continuation thesis, particularly given the overall market strength.
Bullish Case: Maintained as long as price holds above 3.42T with RSI showing positive momentum
Invalidation: A clear break and close below 3.42T would negate the setup
The broader crypto market is showing strength, with major cryptocurrencies maintaining their upward momentum. This macro context supports the bullish continuation scenario for total market capitalization.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.