Total2usd
Altcoins Looking Thick. (TOTAL2)I keep on bringing up how exhausted the the altcoin market is.
Most coins retraced completely. Now we getting this sideways compression.
I'm going with a bull setup.
I can't see people selling at these prices.
The end of compression is a couple months after bitcoin halving.
Will the alts ever run again?
I say yes.... yes they will.
Hodl on cowboy. Time to pull them precious coins of yours off those scammy exchanges. Lock em up and call it a day.
TOTAL 2Here is my alt coin market cap chart I made last month and so far everything seems to be following the way I thought. The only issue really is that I am bullish on $BTC.D which would imply that alts stay sideways for the time being. But once the BTC bulls have the price they want ($9600 Imo) alts will probably play catch up in a big way.
TOTAL2 impending golden crossImpending golden cross on the weekly chart for the alt coin market cap! Also included a few points (purple squares) that show similarities to the previous bull run, and a RSI fractal i'm not sure if that's a thing? I know its meant to be used just for divergences but i noticed some similarities and thought i'd share. Ichimoku resistance can also be seen to be thinning which is a good sign for the golden cross. Happy trading in this crazy market!
CRYPTOCAP: TOTAL2 - waiting for new platform applications!Good day to all crypto fans!
To understand the future, you need to analyze the story. So, the growth in the value of the entire cryptocurrency in 2016 began with the active work of Vitalik Buterin and the large-scale use of the ETH platform for ICO of new projects. In 2019, market growth was prompted by the work of Binance and the launch of new projects on this exchange. This project was not so large-scale, but still we saw a certain interest in the market. What should happen now, which will cause new interest in the cryptocurrency market and its new growth, which everyone is looking forward to.
Most likely, due to the global crisis, based, as the media are inflating, on the coronavirus and the threat of a pandemic, many states must still begin the transition to their own electronic currency. Below I will attach other ideas related to this topic. Of course, those tokens, platforms that will be selected by this or that state and will attract the maximum number of investors. And in the future they will show the biggest growth. I do not think that this platform will be BTC. There are better platforms. Write in the platform comments which tokens do you think are most suitable for issuing the state currency?
Another interesting fact in favor of the fact that the institutional has not left the cryptocurrency market is the volumes that we see on the chart. Someone is buying everything at cheap prices, probably getting ready for something interesting.
Perhaps there will be some other option that attracts interest from cryptocurrency, but so far I see it. The assumption that in cryptocurrency they will be saved during the crisis in the stock market has not justified itself. Therefore, I continue to consider the option of a final transition from an industrial economy to a postindustrial one. And the transition from fiat money to electronic money is an inevitable component of it, as once there was a transition from gold and silver payments to paper money. This is nothing more than a matter of habit.
Now let's move on to the chart: Cryptocurrency market capitalization has come to the lower border of the triangle. And completed the correctional movement ABC. In case of breakdown and consolidation below 44.702B, the fall will continue to 10.104B and this will be a terrible fall of the entire cryptocurrency market. I, nevertheless, expect the beginning of a new upward movement indicated on the chart. But this should serve as a mass application.
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Gold and altcoinsCorrelation between gold and the alt coin market cap, both appear to be forming a 'golden cross' which should arrive early april. This is a MA pattern in which a short term moving average crosses a larger MA, leading to upsides, in this example it is the 50 and 200 day MA. Gold however has a strong resistance mirror resistance level, is this the point in which bitcoin / ethereum will shine as 'digital gold'? Altcoin golden cross is coming on the weekly chart, while gold golden cross is coming on the monthly chart.
TOTAL2 falling wedge 4HTOTAL2 is showing signs of a falling wedge on the 4H chart, shorter timeframes like this are often less reliable and shouldn't be regularly used, but the falling wedge looked nice so yeh. Anything in this area is bargain material. Another angle. Linking my MACD divergence weekly chart for anyone interested.
TOTAL long term uptrendSigns of a bubble can be seen through the long term uptrend. In my other analysis i explained how TOTAL2 (my most published chart) is the 'wild little brother' which seems to have been consistent with the run up of ALTS, majority of the time TOTAL2 will have a greater value in either the + or - direction. Honestly just made this chart because I haven't made one for TOTAL in a long time.. Link to the wild little brother in description!
TOTAL2 descending broadening wedgeTOTAL2 has formed a descending broadening wedge on the intraday hourly chart, this is a reversal pattern. Each, the support line and resistance line must be touched at least twice to validate the pattern. On the 4H chart a cluster of Fib EMA's can be observed to be around the area of 78B, strong support area. On the weekly chart the price can be seen to be consolidating in the middle of the Gaussian channel trend, if this breaks upwards it will be massive.
ALTCOIN MARKET CAP 2020I believe Altcoins will experience accumulation through the rest of the year with breakout in the fall and start of a massive bull run. Perhaps they are left in the dust yet again as bitcoin experiences the beginning legs of the bull market. To me this reminds me of a basketball bouncing and if you drop a basketball on the concrete it will bounce and each bounce has a lower high all the way until it is nearly dead on the ground, yet if given energy (fresh capital inflows - profits from bitcoin moving up) it will start to bounce again.
A slow and long bleed in alt coins would really cause a lot of people to capitulate after underperforming in 2019. I could see this happen again, yet in fall all of those losses could be erased in a matter of weeks if not days.
This is for my own reflections as a trading journal and not to be taken as financial advice. I am using it for educational purposes to see how I progress in my abilities and skill as a swing trader.
Xrp /// altmarket bubbleJust recently discovered this, but now its pretty obvious whats going on. this fits for other alts too. btc sure will suffer too in this drop but maybe not as much as alts (bottom at 4k?)
i was clearly too much focused on log mode in the past when the obvious is only noticeable in non log mode >.>