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Bullish breakout on TOTAL2...Altcoins: "IS IT MY TURN YET???"This chart shows total market cap of all cyptos minus BTC. It's an important indicator for identifying altcoin market trends. You can see the bullish divergence on Stoch RSI has played out with the breakout from the triangle (or bull flag). We are seeing a retrace right now, but if this bullish breakout gets confirmed by a retest of support at the top of the pattern, we will see a lot more gains from Altcoins in the coming months. A confirmation of the bullish MACD cross on the 1D TF would support this idea. This is contingent on BTC however, which has reached the top of the rising broadening wedge pattern to which it has stayed surprisingly faithful. This makes me anticipate a retrace toward the bottom end of the wedge, but who knows! BTC just broke ATH and may surprise us all... another push higher would continue to steal the altcoins thunder in the short term. happy trades ~ CD
CRYPTOCAP:TOTAL2Long
by cryptodonovan
How are we swinging BTC?Swell, thank you. Upswing took place just as wished for earlier. Now the intension is to gradually calm down with the volatility and continue sideways. The present price action is more or less identical with a similar situation in early May. Then, during the 50 days BTC was trading sideways, BTC.D dropped by 9 points. That was reflected in the altcoins marketcap that rose by more than 40%. I am hoping to see a similar altseason now. Trade safe and take care. Cheers Whoop
by WhooperSwan
2021 2nd look at marketcaps for Bitcoin and Altcoins12,553,081,000,000 altcoin marketcap 4,650,000,000,000 Bitcoin marketcap If Altcoins do the same percentage gains at end of 2017 beginning of 2018 then we could see a spike in the market cap as high as $12 Trillion plus if we follow the Beam Bands of the last bull run. I know this is a little too much to expect but with all the information we have on the financial direction globally I would not put this a mere fantasy. Bitcoin reaching anything above $250k would bring its market cap to about $4.6 Trillion or so and if it is commanding a 30% control then it would make sense for Altcoins to reach this insane $12 Trillion market cap if it commands 60% of total market share. I know this is a lot to think about. Notice how we go above this Beam Band by about 322%. This happened in the last bull run where Bitcoin went outside the Beam Bands by about 322% so I am just thinking that this could happen again but of course, there is no certainty but only speculation.
CRYPTOCAP:TOTAL2Long
by altcoinb
CRYPTO TOTAL MARKET CAP (Y20.P5.E1).ConfluencesHi All, I thought I take a look at the bigger picture on Crypto which is the total market cap, potential stock markets and gold. Here I stopped at just the total market cap and it seems that we are having a pullback and looking back to historical data, and the indicators, we are still bullish at the Macro level. Points to take away: > Weekly 10/21 EMA (cream ribbon) acting as support as a few points in the trend. Similar to BTC price action > Fib level 0.236 seems to be the resistance point we have hit. If the pullback is to happen, I have the next fib level which has confluence with the weekly EMA and a bounce with a potential continuation of the trend. > Weekly indicators seem to indicate, that a drop is imminent and the weekly candle stick seems to suggest it as well. > Note the 2 wicks on the weekly candle sticks for this level followed by the red candle. > The MACD still bullish uptrend as well as the WT indicator. However the Phoeix indicator has the RSI crossed over so more downwards pressure as the gray energy drops below 50%. So a correction is taking place as its hit a major fib resistance level. The question is how much back, I say the next fib level down. Please give me a tick or like for this post Regards, S.SAri. PS. I'm starting to be bearish and I think this chart helps suggest this. I will take a short if this level is broken.
CRYPTOCAP:TOTALLong
by ssari
1
Is it cheap? Why "dilution" is a concept you NEED to understandMany newbie investors get in trouble because they don't understand the relationship between share price and share count. If you're new to investing and you've never heard of "dilution," it's very important that you keep reading this post. If I look at a standard chart of Spirit Airlines's share price, such as a upper chart above, I might conclude that the stock is cheap right now. Spirit shares are trading well below the price they've traded at for the last five years. This is an illusion. The valuation of a company is its share price times the number of shares outstanding. When a company runs low on cash, it sometimes issues and sells new shares. This "dilutes" the ownership percentage of existing shares. Imagine I have a pie, and I've invited you and two other people over for a piece. We're each going to get a quarter of a pie-- a really big slice! But then you decide to invite a friend. The size of the pie doesn't change, so now we have to cut it in fifths so your friend can have a slice. Each of us will get a smaller piece. Issuing new shares works the same way. Since the beginning of the Covid-19 pandemic, Spirit Airlines has issued 29.14 million new shares, increasing its share count by 42.5%. That means that each share now represents a much smaller proportion of the company than it used to. The shares have been "diluted." Because of dilution, looking at a chart of the price of a single share doesn't tell you how "cheap" or "expensive" a company is compared to its historical valuations. Fortunately, there's a quick and easy way to chart a company's actual valuation. Share price multiplied by shares outstanding equals the company's total price tag, its "market capitalization" or "market cap." To chart market cap on TradingView, find and click the button labeled "fundamental metrics for stocks" at the top of the chart. Type "market" in the search box, and TradingView will narrow the list of metrics down to the one you want. Clicking on "market capitalization" will add a time series of the stock's market cap to your chart. When we look at market cap for Spirit Airlines, it doesn't look cheap anymore. Spirit is trading within its price range of the last four years, even though the company is now financially worse off in every way. With earnings negative and sales nearly cut in half, Spirit is priced as if the pandemic had never happened. By charting market cap, you've adjusted for dilution and gained a much better understanding of the asking price.
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NYSE:SAVEEducation
by ChristopherCarrollSmith
52
Crypto marketcap1. It is absolutely impossible to know or calculate how much money it takes for btc or any other asset to grow from x to y. No one knows what orberbooks will look like and how deep they will be, neither sell nor buy side pressure. Theoretically it can grow 100x for a hundred dollars or 0.01x for millions of dollars. It depends on supply and demand, turnover and orderbooks. If anyone has the tools and knowledge to make an educated guess, it's certainly not us. 2. A comparison of the amount of money that was needed to bring the btc to say 1000, and now possibly to 100,000, ie. the claim that the latter requires a much larger amount of money than the former should be put in the context that a bunch of degna on mt gox and a couple of korean mobsters brought to 1000 or 20,000 btc, dake btc was a new obscure and uninteresting big money. Now we are talking in mstr and square companies that have a bigger MC than bitcoin, we are talking in pension funds, sovereign funds, fidelity userbase, paypal userbase, maybe even apple, gold and bonds investors and who knows who else. I'm not saying that they will invest or that they have to, but it is possible, and if we go to 100, then they will. So as much as it is true that up to 100k takes a lot more money than that 20k, it is even more true that the amount of money that was in play up to 20k is practically insignificant with the amount of money that can be in play up to 100k. 3. Although futures trading is a zero sum game, bitcoin investing is not. (I'm not one hundred percent sure of this but I don't think so) So, one does not have to lose 100k for every btc holder for the btc bit to be at 100K. Value can be created. take for example uni airdrop. Who lost that money? ETH ico? When it was bought for 10c and first started selling at 10 usd. Who lost that money these people got? Bob buys btc at 2k. At 100 k it sells alice. Bob earned 98K. Alice lost nothing. She had 100 bought a btc and now she has 100. All that money for American pensions that have been coming for years from the growth of sp500 dow and nasdaq etf. Thus neither investment nor the economy works today. Moreover, I don’t think it could literally work that way. If someone had to lose all that money the thing wouldn't hold water.
CRYPTOCAP:TOTAL
by Johnny994
BTC losing its dominance and Alts are seeing greenery once againBased on the BTC dominance we can see that BTC is continuously losing its dominance which is a good news for alt coins. Next major support for BTC dominance is at 54-57 range, so for next few days we can expect alt rally to continue but after that it will be a major decision point for alt coins. if the dominance breaks the support range 54-57 then we can expect one more alt bigger that the current one. I'm currently bullish for alt coin until we hit the support level of BTC dominance., i will close my position after that and probably re-enter based how BTC dominance moves. Stay tuned for more updates.
CRYPTOCAP:BTC.DLong
by GreenCryptoTrades
Altcoin market cap still being upper bounded by 155BNo denying the fact that we could be seeing a double top forming here but if we assume that we are now in a bull run/leg , we could see this double top attempt fail soon. First sign I am looking for is a WEEKLY CLOSE above 155 billion as market seems to still be giving this level ample amount of respect. The last 3 candles (including current one) have attempted to break this level but no success yet. I always look for the 3rd attempt as an all important attempt in breakout setups so let's see if the bulls can manage to break 155 level this time around.
CRYPTOCAP:TOTAL2
by thedailychartist
BITCOIN - Current situation & short term key pointsNovember is historically the best performing month for Bitcoin. We’re 8 days in and already over 8% in the green. After closing above $13,000 for the first time since 2017, we’ve been in a very strong uptrend. Bitcoin market cap dominance over altcoins has risen from 59% to 64%+ since September, indicating bullish sentiment as people are converting their altcoins into Bitcoin. In this situation there truly is not much stopping us from testing the 2017 all time high of 20k. Not only that: the market in general has been positively going up recently. The dollar value has also been in a downtrend (when the Dollar goes down, bitcoin price usually goes up). I think this is a point that few people think about. Especially when considering 70% of Bitcoin trading is done through USD. 2nd place is the Japanese Yen at 20% (although it was over 50% a few years ago). However even with this strong upside action, Google trends is showing that mainstream attention is nowhere near as high as it was in 2017. It is probably safe to say that we haven’t reached hysteric FOMO(fear of missing out) yet. This could mean that we still have a lot of room for growth. ---Short term price action--- After Thursday’s strong 10% leap up, we saw a Doji close and a slight bearish divergence in the RSI, signaling a possible break and downside action, which did happen. I myself took some profits around 15.6k, and am expecting a few more possible days of downward correction. For now I am looking at two zones for re-enter - 14k psychological even point, as well as ~13.4k which is the .618 fibonacci level from the 2017 high of 20k and a previous resistance. The dollar currency index is currently at a crucial support - I am waiting to see if it bounces back up or continues down. It will be interesting to see how the market and currencies continue to react to the election and everything going on.
COINBASE:BTCUSD
by Gajoo
This Formation Finalizing Can Be 2021s Altcoin-Season-Origin!Hello Traders Investors And Community, Welcome to this analysis where we are looking at the coin-market-capitalization of the altcoin-market-cap and its 2-day timeframe perspective, as mentioned in the previous analysis the altcoin-market price-action is holding above this important ascending-trend-line where it is building the coherent triangular-formation together with the upper-resistance and so far the price action has moved as expected and the altcoin-market-cap has formed the coherent wave-count within the triangular-formation. When you did not see this analysis already I highly recommend it to you to watch to have a full-depth-overview, now as these important measurements have taken place there are now fewer confirmations to show up with however it is inevitably important that this price-action really show up to confirm the whole dynamic finally and to do not invalidate it, therefore I detected all the important levels and likely outcomes we should consider within the established structure and it's next destinations. Looking at my chart you can watch there the altcoin-market already shooted above the upper boundary with the wave D of the wave-count which often happens when the wave-count is especially bullish the difference to a full confirmation here is that the price action and the candle still closed within the triangle this is why it is not a full confirmation, to fully validate it is important that the altcoin-market closes above the upper boundary as it is marked in my chart after completing the wave E of the wave-count. In this case it is significantly necessary that the market-cap does not fall below the ascending-trend-line again because this can invalidate also the triangular-formation and the broker breakout as well as confirmation however this is currently not the most likely scenario as the price-action still holding above the ascending-trend-line and above the 50-EMA in red as the range getting narrower and narrower this is an indication for a final breakout and close above coming nearer. The fact that the altcoin-market-cap is holding strongly above the established pre-corona-highs gives the whole structure a higher bullish edge and especially when looking on the long-term-perspective considering a possible rally emerging in 2021 a decrease in corona which is also prognosticated within the summer time can lead to a positive reaction and bullish environment within the market, till then the market especially the altcoin-market-cap has to show how it can establish the pace till then to finally emerge into a solid rally which is protracted together with the Bitcoin possibilities for bullishness, what is also confirming this dynamic is that there are many upcoming projects such as defi or ethereum 2.0 that are lying ground for a solid bullish market environment also on the fundamental perspective. Next times will show how the technicals confirm within the established structure leading to a final breakout as suggested, it will be definitely an interesting journey. In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best! “Prospect is the ingredient of good fortune.” Information provided is only educational and should not be used to take action in the market.
CRYPTOCAP:TOTAL2
by VincePrince
13