CRYPTO total ; ALTS ; repeating RSI patternsCRYPTO total ; ALTS ; repeating RSI patterns
as the title; the last one linked showed our potential roll over, which unfortunately has happened and a bear market is now in full swing. seems like we are at that capitulation omega point in the cycle.
hard to tell which one of those two red arrrows we are at IF we are just repeating cycle momentum here. looks like a potential bottom, or at least large bounce, after riding back to double bot on the small time frames here.
also we fast roll over here, and a massive last leg down happens real fast. like minus 30-50% in a day or two.
its actually an easy play because it will be strong and fast either way.
lesson: dont put your buy too low within the 'roll over dome threshold' lol! dont get too greedy on your bounce entry in other words.
Totalaltcoinsmarketcap
TOTAL ALTCOIN MC- As you can see the total market cap is edging to a breakout of that triangular pattern, we could see a massive breakout coming soon!
- A massive shake out, cyber attack or regulations, could cause the market to break below.
- I love to cover both sides of the story as anything can happen, this is crypto one of the most volatile markets!
TOTAL3 Ascending Triangle PatternCRYPTOCAP:TOTAL3
I have been following this massive ascending triangle that has been forming on the TOTAL3 chart since the May correction. Notice how price has been unable to close any daily candles above the flat upper resistance bound. In the past few weeks this chart has consistently printed "doji's" as the consolidation inches closer to the upper resistance line. There is a clear ascending lower resistance bound that has formed as well.
The breakout target for this pattern would indicate a 70% move to the upside for this TOTAL3 index which would send many altcoins parabolic. It appears that price may continue to consolidate inside this pattern formation for up to 2 more weeks (~Nov.12).
My trading plan is to wait for a daily close above the resistance line and then open long positions in a few different altcoins that I feel have been suppressed. Best of luck to all during this coming altseason.