Long-term analysis TOTAL2 CRYPTOCAP Altcoins - Head & ShouldersMassive head and shoulders formation on the 3W chart of TOTAL2 #CRYPTOCAP (orange line):
The candle stick chart represents the Altcoin dominance which is currently breaking through the upward-sloping trendline (red support line).
#Altcoin EXIT opportunity at pullback to the neckline (violet neckline of SHS pattern).
If the TOTAL2 CRYPTOCAP can get above the right shoulder the head and shoulders sell alert is invalidated.
But if the TOTAL2 CRYPTOCAP gets rejected at the neckline we will see a massive Altcoin crash (TOTAL2 CRYPTOCAP could shrink to 600 – 500 billion USD in this case)!
Note:
This analysis has nothing to do with Bitcoin, because the TOTAL2 CRYPTOCAP does not include the BTC market cap.
But it is recommended to exit your altcoins positions near the neckline of the head and shoulders pattern.
Disclaimer!
We (Asset-Ethology) are not a financial adviser. For educational purpose only!
You can use the information from the post to make your own trading decisions.
Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
