TOTAL2
TOTAL2/BTC: Prepae For A Giant WaveI love this chart.
look at it. the rally is not even started yet.
thanks to time fibo and the upper resistance of the blue channel this correction was predicted. the orange line (which is 100% time retracement of two last highs) can be a good time for the main rally to begin. (or it may just begin a little earlier)
the main point is that there is still a lot of room for growth.
Anyway
Cryptocurrencies (altcoins, to be specific) are going to rock and what we saw in past months was only a small portion of a bigger movement.
BTC.D vs TOTAL2 UpdateAs you can see on the BTC.D chart we have a clear rejection of the MA200 and a bearish cross pointing down (MA50 - MA100).
This tells me the dominance will keep going down and downwards momentum will increase.
TOTAL2 target on fib extension points to 817b
This is not advice, just a follow up of my previous charts
💡ALTS M-CAP Is Not Giving Up🚀🚀🚀🚀🚀🚀 #ALTSEASON2021Hello Dear Traders,
We Crypto Traders witnessing Awesome alts rally from few weeks,
Every other alt coin is 2x-3x from weekly low, from last week we are seeing exhaustion in alts.
Alts market cap made high of 600B and corrected to near 500B.
from last 1 day again huge buying we are seeing in alts market cap, in upcoming days we will see alts market cap crossing 700B.
hence small-mid-large cap coins are going to test new heights.
Like and Follow us.
TOTAL2 Altcoin Market Cap RSI MACD Double DivergenceIt is really important to respect RSI MACD divergences since they most likely are working and showing you the way before it happens, also this situation happens at the exact 1.618 fibonacci extension level it is hard break through and the new trend's degree was quite high, so I am expecting a correction to the latest trend level drawn on the chart, the purple drawing shows the prediction of movement. I am keeping my positions open ( not futures ) , but I am aware that this is a possible scenario but eventually it will be the buying opportunity at it's best after the correction.
Total2 Cap / Altcoin Cap - Sky is the limitLooking at the TOTAL2 chart, last breakout above previous cap ATH saw a huge gain over 560d period. TOTAL2 has just broken the previous ATH and it consolidating nicely. Accumulation phase has been longer this time, so the top may be beyond 560d. Watching BTC.D closely also.
Work In Progress - Total Market Cap (excluding BTC and ETH)Last Bull Market was about BTC and alts, we saw some alt seasons clearly noticeable using the BTC Market Dominance Chart but now we have something a bit different. BTC is King and will remain King but that King found a Queen (nothing really new, no matter how you name it).
For some traders/investor, ETH died a long ago. Nevertheless, as we know ETH reborn like a phoenix from the ICO ashes to be the most innovative and used Defi network. Not everything is great since ETH network is quite expensive. We all miss the sub 5 gwei fees for sure…
Anyway, using some alternative methods to find where/when alts could be in exhaustion or expansion I decided to also use this new Market Cap Chart.
On the top we have the Total Market Cap excluding BTC+ETH and below the Market Cap Dominance (excluding BTC+ETH). I do believe we now need to merge BTC and ETH into a single entity since ETH is clearly not behaving like many alts. I also believe ETH will remain more volatile than BTC. This chart isn’t about finding patterns/opportunities for each crypto but instead looking at everything to see where alts may find support or resistance, switching the cycle from alts to BTC+ETH or vice versa.
By the way, I'm not assuming ETH will move with BTC but they complete themselves.
To the last breath up to 600 billionThe uniqueness of Altcoins continues to reach the $ 600 billion area. We will reach a dangerous point in the future, and I hope that the tragedy of 2017 will not be repeated. Currently, the indicators are in good condition and will benefit you until the last drop of blood.
Update BTC.D VS TOTAL2Update BTC.D VS TOTAL2
You can view my first charts at the bottom.
I see a lot of BTC.D charts passing by here, but this is my opinion.
First things first, what are the indicators telling me:
TOTAL2:
We saw a beautiful rise and resistance on the 1 fib extension, eventually broke it and even broke the 1.618 a few days later.
Already tested back and this is now a good support zone.
MACD here is high and momentum still growing
BTC.D
In the Bitcoin dominance you can see a nice break to the downside and i think this is not the end of a falling BTC.D trend
Why:
The SMA's on the daily chart show a lot of downwards pressure, the MA20 has crossed the MA's 50 and 100 to the downside. Also, these last 2 are turning to the downside.
The last three days BTC.D went below the daily MA200 and this is a really important level. With the spike back up today as BTC rises to +40k we are touching (retesting) this level.
All round conclusion (2 options):
1 - If the BTC.D does not break back up the MA200 today we get a important construction named the kiss of death and the momentum of the dominance drop will increase hard. Altcoins will go up hard and the TOTAL2 will meet the 2.618 fib extension at 514B $ or even overshoot it to the 3.618 at 618b $.
2 - If the BTC.D does break overhead MA resistance (MA200 and MA20) we could see an altcoin bloodbath and see a retrace of the TOTAL2 cap to 340b $ at the 1 fib extension level.
This is not financial advice, just a way to spot early what will happen if you are invested in alts a lot.
Thx for reading
Here are the first charts:
TOTAL2:
BTC.D: