The total has successfully met my initial target, but I've identified two new scenarios that could still align with my longer-term expectations. Currently, the total is exhibiting a pattern on the lower timeframes that could lead to either a bullish or bearish breakout. A bullish breakout could propel the price to the upper boundary of the longer-term pattern at 1.6 trillion, or potentially form a double top. Conversely, a bearish breakout could see total3 decline to 460 billion, facing resistance at 530 billion. If that level is breached, the next resistance would be at 780 billion, which aligns with a head and shoulders pattern. Should this pattern also break (specifically the left shoulder), we could anticipate new highs. If it fails, we may need to prepare for the next phase of the bear market, with total3 potentially dropping to 400 trillion before a new bull market emerges. Additionally, I recommend examining the higher timeframes, as they reveal a classic Inverted Head and Shoulders pattern, with targets consistent with the clear pattern illustrated in my chart, providing two confirmations for my analysis.
https://www.tradingview.com/chart/TOTAL3/xsE2vv5c-TOTAL3-What-Lies-Ahead-for-Altcoins/
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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.