Total Market Cap Likely Dead Cat BounceI know all of us are on the edge of our seats waiting to see where crypto is going and if BTC is ready to take off. Let me explain why it won't be that easy and when things seem too good to be true, they likely are.
I have made a previous post on the Total Market Cap explaining the critical bullish trend line it most hold to remain with bullish momentum. A break below this level will signal a Bear Market without question and will decide the direction of crypto for the coming months. Here is that post,
Now to find the devil in the details; In the chart, The RSI is still clearly in the downtrend for momentum. We have seen BTC break out of its Daily RSI resistance but this might have been due to the amount of room the Total had to rise. We see a looming 100MA and 200MA Death Cross approaching on the Daily time frame. We have seen this 3 times prior in the last 7 years and each time it was met with a significant drop. Let me give you some examples and ill start with the one that is almost identical in both circumstance and price action,
We see the exact same 100MA and 200MA Death Cross, a breakdown of the exact key bullish level, followed by a dead cat bounce and then a 40% drop afterward.
Here is a closer look at 2019
Here is another example of the 100MA and 200MA death cross that happened right after the 2017 Bull Run top.
Again this was followed by a substantial 78% drop. I do NOT expect this significant drop again, this only occurred because of just how far it separated from the bullish trendline.
The similarities do not stop at just the Total, it is also present in BTC at the moment as well.
Pay very close attention to just how similar the Moving Averages are and the circumstances involved in the examples above. These are significant things to take note of and really suggest further selling pressure is going to follow.
Here is the Total on the 2 Week time frame where we see a VERY Bearish cross on the MACD and low levels on the Stoch RSI. These signals will very likely carry to the 3 week and monthly time frames next and these have all been indicators of previous Bear Markets.
If the total fails to hold that Bullish trendline there will be no more denying the Bear Market. Another thing to keep in mind is this pump was due to 100 Million shorts being squeezed. Without that, we would not be at this level.
As with the Bulls being liquidated at the bottom and a rise is expected; When the Bears get liquidated at the top is a drop expected?
Thank you for making it this far into the analysis, I hope this was insightful in any way and gave you an alternate perspective on the situation. I appreciate the support greatly, and comments are more than welcome;
Total
Total Marketcap breaking out...Welcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
Let's get to the chart.
The total market cap chart looks really bullish here after breaking the $1.4 Trillion resistance level.
By the end of this week if the Total market cap closes above $1.68 trillion it's highly likely we will see a rally towards $1.77 to $1.8 trillion which will eventually push the whole crypto market. Both Altcoins and Bitcoin will pump together.
This is a very important chart that only a few people who always want to stay ahead use.
The structure exactly looks like BTC at 36k level.
INVALIDATION: Weekly close below $1.41 trillion.
What's your thought on this?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
Neutral Mindset help you see things better..!It is all about calculation the right time ad the right asset..!
I have + 100 analyses about Bitcoin, 15 for Total Cryptocurrency Market cap, and One for Ethereum.
Sep 2020 - April 14, I was Bullish, more than 40 Bullish analyses.
The past 2 days:
This is the second time I publish a Bullish analysis in the past 100 days! Total is +7.6 up, Bitcoin is +14 up and Ethereum is +5.2%.
CRYPTOCAP:TOTAL
BITMEX:XBT
COINBASE:ETHUSD
Those who hate my analyses about cryptocurrencies, it is time to Raise your hats and your glasses too..!
Moshkelgosha (Sniper Trader)
History tend to repeat itself..!In 2018, the Cryptocurrency market had lost 86% of its value, from 692 Billion to 94 billion USD)
In the past 11 weeks, the Cryptocurrency market has lost almost 47% of its value. (1.3 Trillion USD)
The same story could be repeated in the next 6-12 months..!
There could be some temporary upward moves (correction) in between..!
Total crypto market analysis In this case we are analysing the total crypto market cap, which for me tends to be the best description of how the crypto market is going on.
We can use this and correlate with pairs like are moved the most by it like btc, eth, bnb, dot, ada and so on ( in general top 25 crypto market coins).
The good thing about it is that because of the volatility present in those coins, it can give us a better measure and structure for entries and exits .
We can see at the moment we are in double bot chart patterns , which is a bullish pattern, and our current position situation us on the critical zone.
In this case we have 2 scenarios
LONG:
We cross 1.25T total market cap .
In that case we would have as TP 1.26T and 1.28 T
For stop loss we would have 1.235 T
SHORT
We cross down 1.235 T
In that case we would have as TP 1.22T and 1.20 T
For stop loss we would have 1.25 T
TOTAL 2Days Cycles Hello Traders
As you can see in the chart above, every red circle represents an important area in my opinion. As it is seen candle bodies in 2D chart are somehow important. When price is closed lower than a lower line (blue lines in each area), or above an upper line (yellow lines), it continued its way in that direction, almost sharply.
This point of view may be used in further areas found in 2D TOTAL chart.
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What is your opinion? Comment below.
If you like the idea, please hit the like button and follow me so that you won't miss the updates. The information given is never financial advice. Always do your research too.
Good luck.
#ALTCOINs in Danger? Welcome to this quick update.
In my last update, I said if ALT Mcap CLOSES BELOW 738 Billion altcoins will be bearish AND YET WE SAW dump in ALTCOINS but it didn't follow how I expected.
Just shifting a few trendlines and I got the chart above.
Looks like it's still under the channel and a bounce is likely from here.
It will take some time with sideways action or even little pullbacks during the weekend.
Close below this channel could create a panic in the altcoin market with blood everywhere.
Let's hope we see a bounce from here.
Let me know your thoughts on this.
Thanks for reading, Do hit the like button if you like it and share your views in the comment section.
Thank you
Stay safe
#PEACE
See you after Labor Day - $TOTALa very very boring summer for crypto has been obvious for the last several weeks as we have stayed in this range. Volatility continues to decline and make lower lows for BVOL24. This makes me think we continue in this very boring range until at least after labor day, if not even later. Time to spend time on yourself and those you love this summer and ignore the charts. Unless you are trading something that is trending like the SP500. I expect a very volatile fall season into winter and there is a lot of capital sitting on the sides ready to play the crypto market.
For my spot long term holdings I continue to dollar cost average into the market at the range lows.
There are so many doom and gloom posts and moon boy posts as well we need another 45-90 days to flush them out in the chop of this range.
If this range breaks down my next target would be the $1.1T level where I would continue to DCA spot buys.
I believe we are in the adoption phase of crypto currencies and it is very relevant to have spot allocation for my own portfolio holdings. I believe the next 5-10 years will see exponential growth and I see buying the lows as value buys.
This is for educational purposes and none of this should be taken as financial advice.
Crypto Total Market Cap, June 29A double bottom is happening on Crypto Total Market Cap and target is around $1.7 Trillion as you can see.
It is on bullish trend and it has reacted to the support level , It is on 0.618 Fibonacci level too
Zoom out the chart, you can see the whole history.
Same thing is happening on BTCUSDT chart also which is normal and target for that is $40k , If this really happen then BTC will returns to the bullish channel and BTC rally is still going on (see my previous idea, I have linked it below).