Another leg down before alt season begins?
If we look at the TOTAL 3 chart, you can see that we've just formed a double top. I lean towards one more leg down here that plays out towards the second half of February and potentially into March.
I think price has the potential to get down to the 630B support, but can start scaling in around 775B.
Many alts still look like they have another 50% lower to go before the look good to buy and hold.
I think price has the potential to get down to the 630B support, but can start scaling in around 775B.
Many alts still look like they have another 50% lower to go before the look good to buy and hold.
Note
It is possible that we retest the highs before falling further, but even if that happens, I think the same outcome will prevail.Note
Welp that happened fast. First target hit.Note
Think it's likely that we bounce here, and then hit new lows into late Feb/early March.Note
There is a possibility that we break the 630B support on the next move down and can go all the way down to the lower support. Alts are looking very bearish here and look like they could have 70%-90% drops even from these levels.
Let's see what happens over the coming weeks. Being able to buy those levels will be generational buying opportunities.
Note
Getting closer...
Monday or Tuesday should be the bottom
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.