For Alt coins, Down trend has not finished yet.we ca see the value of total 3 still struggling in a flat channel and its is under declining trend line, by the fact that the BTC dominance is so high, if BTC starts a corrective wave it can affects dramatically on alts. so be cautious about your trade and the size of your account and leverage.
Total3
📈TOTAL3 is ready to rise above dynamic resistance📉CRYPTOCAP:TOTAL3
Hey everyone, first take a look at my previous analysis and positions.
As previously analyzed, alt-season is coming.
Don't forget to risk-free your position.
Please share ideas and leave a comment,
let me know what's your idea.
CrazyS✌
Total3Alt coins market cap
I think after the .236 retest and reclaiming the 2017 speculative high here we have a much greater chance of completing this IHS looking shape and see higher price levels
With banking issues worldwide the subsequent narrative will have to question what if defi?
And we should see some relief to the alt coin market cap if not the beginning of a new bullish cycle
BTC DOMINANCE Below this level, the alt season starts!BTC Dominance has a clear Support Zone inside 39.70% - 38.90%. This has been holding for almost 2 years.
The white line is the Total Crypto market cap excluding Bitcoin and Ethereum. Mostly negatively correlated to BTC Dom.
A break under the BTC Dominance Support Zone starts the alt season.
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TOTAL 3 Weekly chartTOTAL 3, which excludes BTC and ETH has pulled back More than the TOTAL, which shows us that Bitcoin is holding up better.
However, The ALTS represented in this chart are now testing a long term support while also sitting on the 50 EMA which could also offer support
The MACD is still Bearish though and this could lead to either Ranging or a drop below support
What is most telling here, as mentioned in previous posts about the TOTAL 3 , is that it has still failed to reach and pass the Neckline of the FTX Drop
This shows , again, that Bitcoin has the favour of the market and continued uncertainty is holding the ALTS back
But that is not all doom and gloom as there have been some Huge gains in some Alts coins in recent weeks
This market is FR from dead as some would like to imply.........
$BTC vs $ETH vs $TOTAL 3 (Altcoins)Be careful with this drop
There's something more @ play here
Still cautious bull but $BTC can drop close to 10%
That's decent amount of pain for #altcoin
$ETH could fill the gap or drop to 1400
RSI looks BAD
$Total 3 = #altcoins is whimpering
Some bounced nicely already
TOTAL 3 MARKET CRYPTO - WHERE WE ARE KNOW
Total 3 is in the ANGER psychology phase, in case the bulls hold the price where we are now, could be a new and last pump for altcoins. after that a huge correction.
If lost these levels, means BTC is going hard down and it could start a downtrend to break all supports to the depression phase.
Phase B of Wickoff Teory
in the next weeks from these levels, we can go down to lower prices until the spring event happens.
Not financial advise