TOTAL - Bull run starts October?To get more clues on what BTC is doing, I analyzed the TOTAL (Total Crypto Market Cap).
I use Elliott, trendlines, and fibonacci. I keep getting the same results on many analysis, of the bull run starting in October.
I label my waves 1 A W and 2 B and Y. Why is that? There is a real possibility, that crypto does a huge pump for months, then another bear market hits. So I keep these corrective labels to remind me. This idea lines up with the fact that the US Treasury yield curves inverted 11 months ago. If you are not aware, in past history, recessions hit anywhere from immediate to 17 months after a yield curve inversion.
Totalmarketcap
The Path of HOLDERS" 🌟🚀Hello, fellow crypto enthusiasts! I'm CryptoMojo, the name you can trust when it comes to trading views. As the captain of one of the most vibrant and rapidly growing crypto communities, I invite you to join me for the latest updates and expert long and short calls across a wide range of exchanges. I've got your trading needs covered with setups for the short-, mid-, and long-term. Let's dive into the charts together!
I've dedicated my time and effort to crafting this chart, but remember, what you see here is crypto insight, not financial advice. 🚀💰 #CryptoMojo #CryptoTrading
HODLers, Prepare to Conquer! 🌟
While the Bitcoin rollercoaster may seem to have reached its lowest point, the thrilling journey through the crypto wilderness is far from over. Right now, we're venturing deep into the captivating Accumulation phase, a realm that demands not only Patience but also Courage as our guiding stars. 🌲💫
Now, let's turn our attention to the tantalizing world of #Altcoins, where on the majestic canvas of higher timeframe charts, they're poised for nothing short of a spectacular breakthrough. As we gaze ahead into Q4, all signs point to a bullish adventure for these altcoin gems. 🚀📈
In this bustling and often clamorous crypto realm, here's your compass: Accumulate your treasures with the shrewdness of a seasoned collector and hold them with the unyielding resolve of a true champion. Tune out the distractions, and cling unswervingly to your long-term vision. 🚀💎
In the grand tapestry of the crypto cosmos, rest assured, your steadfast Patience will soon be showered with the rewards you've envisioned. Keep the faith, for the best is yet to come!" 🌌💰 #CryptoHODL #LongTermGains
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
DECENTRALAND - Impulse, Correction... 200% To Be Made!MANA is showing us a perfect example of an Elliott Wave Impulse, correction, impulse.
We are currently within the correction and looking for Wave B completion.
Will be looking for lower timeframe price action to tell us when to enter with a small stop loss!
Goodluck and as always, trade safe!
How To Use Total Market Cap ✨We can use Total Market Cap to analyse when it's best to go bullish or bearish on the crypto market. A growing market cap can indicate investors' interest and their positive evaluation of the current market state = bullish whereas a stagnant market cap would indicate that investors are taking their money away from the crypto market = bearish.
By analyzing the Total Crypto Market Cap weekly chart, we can see 5 clear waves to the downside, which means we are either in motive wave 1 or in wave A of a zigzag pattern.
For both cases, we are expecting an ABC correction opposite to the recent 5 waves. we have already completed subwave A and finishing now subwave B, expecting subwave C higher.
In a zigzag pattern ( 5-3-5) we have:
Wave A= 5 waves
Wave B = 3 waves
Wave C = 5 waves
Therefore, our mission for the long term is to catch the impulsive waves of wave C after wave B. But for now will be focusing on catching subwave C of wave B.
We will be using this chart as a guide for the other cryptocurrencies charts.
Stay tuned for more Crypto analysis!
Navigating the #TOTAL Market Cap: A Glimpse into Crypto's Future💎The overall health of the cryptocurrency market can be gauged by examining the #TOTAL Market Cap, making it an essential chart for traders and investors. Delving into the #TOTAL weekly chart, the long-term perspective remains optimistic. Notably, the downtrend trendline representing the average price has been breached, accompanied by the formation of a new Higher High. Such developments hint at a potential transition from a bearish to a bullish trend.
💎Post-breakout, the market entered a consolidation phase lasting four months. During this period, the price oscillated between the 1.235T resistance and the 1.000T support. Currently, #TOTAL is undergoing a retest of the significant 1 Trillion mark, which aligns with the Volume Profile support, reinforcing its importance. If this Demand Zone remains unbreached, we might be on the cusp of a substantial 60% surge, targeting the 1.6T resistance. The strength of this resistance is underscored by its alignment with the 327.2% and 38.2% Fibonacci retracement levels.
💎It's worth noting that making long trades now could be akin to catching a falling knife. Nonetheless, our objective at the MCP team is to highlight these pivotal market shifts. By doing so, we hope to empower you to discern bullish indicators promptly, ensuring you maintain a competitive edge in your trading decisions.
Double Trouble Ahead with Head and Shoulder PatternsThe crypto market is revealing a worrisome development - not one, but two head and shoulder patterns. The larger pattern has already experienced a breakdown, which paints a bleak picture for the crypto landscape.
This double whammy of patterns hints at a very bearish outlook for the crypto market. Stay cautious and keep a close watch on market developments.
BTC ---> 2 ScenariosI'm going to relate this post to my previous one. This idea gives actual technical price levels to watch out for. To sum up , the blue channel's current breakout implies a slow retest. It aligns with the inflation rate reading announcement on the 13th of September. Therefore:
I'm bullish until the date of the reading
I expect high altcoin volatility (price increases are more likely) due to the temporary stagnation of major cryptos
Red scenario seems more likely at the moment
Do comment your opinion!
ETH's Head and Shoulders Pattern UnraveledEthereum (ETH) is drawing attention with a head and shoulders pattern breakdown. This resembles the broader market's trend, raising prospects of a 25-30% crypto sector decline. The head and shoulders pattern signifies a shift toward bearish movement, while its alignment with BTC and total market cap projections strengthens this anticipation. Stay alert for market developments as patterns evolve.
Bitcoin New Low?Speculative forecast for a potential new low around mid-november with a $14,353 target. Seems like a nice enough number to trick the bulls into assuming 15.4k will hold whilst also painfully disappointing the bears who wait for 8-13k.
DCA throughout the levels is the safest play. Accurate entries to nail the bottom is anybody's guess.
Crypto Alert: Head and Shoulder Pattern Signals 25-30% DropWatch out for a possible 25-30% dip in the crypto market . Experts are pointing to a head and shoulder pattern, often a sign of upcoming drops. This lines up with the BTC target predicted yesterday, raising worries among traders and investors. Stay tuned as the market's next moves unfold.
Margin Bloodbath as BTC ImplodesHi Traders, Investors and Speculators of Charts📈📉
One of the most important parts of trading is following the macro phase and planning your trades. The only way to do this, is to pre-identify the macro market cycle that's currently playing out. Why am I reminding you of this? Well, because despite the recent liquidations, we are still in a CRYPTO BULL MARKET.
Bitcoin recently dropped to around 25K from a previous 30K ish. This caused a significant drop in the value of cryptocurrencies across the board, but micro caps didn't plummet as hard. Traders lost an estimated $1 billion in liquidations in a 24-hour period. This sell-off was one of the most severe downturns for digital assets this year. And yet, according to the macro , things are looking extremely bullish for smaller cap altcoins. Most smaller cap altcoins have not plummeted as hard as BTC and the other top alts by market cap. This means that the liquidity could possibly go into micro cap coins next.
(Liquidation is when an exchange closes a leveraged trading position due to a partial or total loss of the trader's initial margin. This happens when the trader is unable to meet the margin requirements for the position, or when the price of the asset falls below a certain level. Margin trading is a type of trading where traders borrow money from an exchange to buy more assets. This allows traders to amplify their profits, but it also increases their risk of losses. The liquidations that occurred during the sell-off were caused by traders who were forced to sell their Bitcoin positions due to margin calls. A margin call is a notification from an exchange that a trader must deposit more money into their account to cover potential losses. If the trader does not deposit the required funds, the exchange will close their position, which can lead to losses.)
The Bitcoin price drop was unexpected, but so far the support zone around 25K holds well.
My strategy at the moment is the same as it was before this bloodbath; I won't touch BTC or the top 10 by market cap, especially not with leverage trades . Instead, I will continue to seek out under valued micro caps and accumulate for the next altrun.
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
USD Surge and Risk-Off Moves: Factors Behind Cryptocurrency DownCryptocurrencies have seen some aggressive turndown lately, and there are a few reasons for a drop.
1.SpaceX Selling Bitcoins: Firstly, there was news last week that SpaceX, a company known for space exploration, had sold some of their Bitcoins. Since Bitcoin is a major cryptocurrency, any large sale by a well-known names, creates uncertainty in the market a especially when news is in connection with Elon Musk.
2. Risk-Off Moves and Strong USD: “Risk-off” moves refer to investors becoming more cautious and moving their investments away from riskier assets like stocks, and even cryptos and moving them into cash. So USD is recovering making cryptos weak which is not a surprise as US yields are still on the rise.
3. Ripple Case and SEC Appeal: The news about the Ripple case also contributed to the drop. The judge has decided to allow the SEC to appeal the case means there is still some uncertainty about how cryptocurrencies like XRP will be regulated. Ripple has seen some nice drop so far and erased all of the gains that were made in July after the announcement of a Ripple win over SEC. From a longer-term perspective, I think Ripple is moving into the attractive zone for a bounce, now after some “weak hands” are gone following an over-crowded and over-optimistic reaction back in July.
All of these factors above combined create of instability in the cryptocurrency market, causing prices to decrease but when looking at the cryptocurrency total market cap, there can be some interesting support still for this year as we see wave C in progress; final leg of a contra-trend movement.
TOTAL & BTC: Guide to Trend Line AnalysisHi Traders, Investors and Speculators of Charts📈📉
One of the most important parts of trading is following the macro phase and planning your trades. The only way to do this, is to pre-identify the macro market cycle that's currently playing out, as well as determine key zones of support and resistance. You do this by drawing up trend lines on the chart, from a macro perspective.
Here's a comprehensive Guide to Elliot Wave Theory, done on ETH :
To summarize if you're short on time, Elliot wave identifies upward and downward phases during an overall bullish or bearish cycle. Wave 1-2 can often correct a near 50% from starting point of wave 0-1. This means the price can drop -50%, and you would still be in a bullish cycle .
Now that we've discussed Elliot waves, we can also take a quick look at Wyckoff Method for BTC, which I did over here:
In other words, don't be scared of corrections! Wait and plan your trade. There's no need to force a trade. If you have identified your support and resistance zones with diagonal and horizontal trend lines, you can wait for the price to reach your target and execute a brilliant trade with a great risk-reward setup.
Cryptocurrenices making deeper pullback after FOMC minutesThe USD edged slightly higher, and stocks hit new lows for the week yesterday after the release of FOMC minutes. These minutes revealed that officials expressed concerns about the pace of inflation and noted the possibility of additional rate hikes unless future data suggests otherwise. So cryptos are down as USD seem much more attractive with higher yields/lower treasuries. Crypto total market cap is coming lower, but can be in C wave of a higher degree pullback, but it has room for slightly more weakness till support is reached. Ideally near 1.05/1.06T. So from an Elliott wave perspective, the whole pattern still looks good for bulls, but more time and patience is needed here, during summer pullbacks.
Golden Pocket Rejection We dropped down to a swing failure pattern May 12th. (a long wick down). We then sprang back up on the 15th to create a small range for the month of May. The low and high of that range used to pull the fib and find a golden pocket at 1.15 trillion . We have left that range long ago but since rejected from it twice. I wonder if we will retrace to the POC below and continue ranging? My gut says we go down but that doesn't mean anything really.
Now here's the thing. If you zoom out 100% and draw a fib from the lowest low to the highest high you will see the golden pocket is.........1.15 trillion. I cant make this stuff up.
Total crypto MC vs Gold ??You might call it optimistic but for me it’s obvious, total crypto MC will go higher than btc in percentage due to so many good projects and bitcoin getting old ( like it did last cycle )
From the bottom to new highs it usually takes 700 to 800 days for and bitcoin bull cycle , with my math somewhere between end of 2024 to march 2025 we will see the top .
First target for me will be gold market cap where people waiting for bitcoin mc to get golds which im not sure that happens so ill wait to see if that’s possible at the time .
A bit soon to get a decision but probably i get mine when price was at the date i appointed.
Alts need a 'Small Push' for a HUGE Pump!Market keeps going sideways after XRP vs SEC news favored the crypto market.
Today i will not talk about Fundamentals though but about Technical (TA).
What i like to call the 'All Time Trendline' is the biggest level in my analysis.
In this case this has clearly acted as support in March this year and more recently in June this summer.
At this stage this same level is resistance at 377 Billions.
If and when this level can be breached it can result to a massive Pump (a Rise) in Altcoins as the next level would be much higher at 600 billion dollars.
The price is trapped in a descending channel and those more likely end up offering breakouts.
We are very close to that breakout, we practically need a 'little push' over the 380 billion level.
Nasdaq might give us that little push coming closer to All Time Highs.
Be aware: we are still at resistance (the channel/yellow levels). We still need that little push to break much higher! So we will be on alert!
the Bad scenario is rejection and lower in the channel..still priced at 37-38% likelihood for 296 billion Total 3.
One Love,
The FXPROFESSOR
PS. Time for Alts to rise Bitcoin higher or will a systemic risk do the opposite? We will find out in the next 2-3 months! stay close, stay focused.
Crypto Total Market Cap : ROADMAPHi Guys,
I update the analysis and show you the new roadmap please check the last one and decide to do what do you like to do.
SecondChanceCrypto
⏰25/JULY/23
⛔️DYOR
Always do your research .
If you have any questions, you can write them in the comments below.and I will answer them.
And please don't forget to support this idea with your likes and comments.