total3/btc outlookI think this has bottomed and altseason is around the corner.
Also notice the bullish divergence on the chart.
TOTAL3 trade ideas
TOTAL3 Looking Good!In my previous analysis, I mentioned that a $600-615B valuation on TOTAL3 is a good entry to scale into strong altcoins.
Here's my updated multi-timeframe analysis on TOTAL3:
On the daily timeframe, we can see the price action is printing a Head and Shoulders pattern. However, the directional view from the longer timeframe candle is more respected than short-term fluctuations.
On the weekly timeframe, the price action is showing strong movement for 2 weeks, followed by a retest (last weekly candle) also showing significant rejection from the $600B valuation. We can expect this weekly candle to create a higher high and possibly break above the current resistance at the $660B valuation. With the incoming monthly close, we can also expect some fluctuation.
BOOST THIS IDEA IF YOU LIKE MY ANALYSIS.
The Quiet Beginning of AltseasonWe're currently seeing the Greed and Fear Index hitting similar levels as during the "quiet beginning of Altseason" in 2021, as shown in the chart. Levels around 38 to 42 are common for drawing liquidity away from the initial distribution phase of Bitcoin. It's important to remember that in 2021, there was a period between the actual start of altseason and the noticeable price pumps in altcoins . This phase is a consolidation phase , where money flows into the market to buy altcoins at lower prices. While Bitcoin's price will also rise, it won't increase as much as altcoins during this time 📈.
Note 1 : the starting of the Altseason will not be spotted until we reach the new ATH in Altcoins💰.
Note 2 : Not all the Altcoins will make huge pumps during Altseason. Choose wisely your projects💎.
Note 3 :This Altseason will not last long 😉
TOTAL3 OUTLOOKYesterday, I posted my outlook on TOTAL3, but it was taken down by TradingView. I will be reposting the same idea.
I believe a $600B-$615B valuation on TOTAL3 is a good time to enter into strong altcoins that you have conviction in.
I expect the market to hold this area for the upcoming monthly and weekly candle close. As long as it holds this zone, we're looking very bullish! Continuation to the upside is very likely! Don't get shaken out because this might be your best chance to enter!
total 3I think we still have two major rallies in this bull market for altcoins. Bitcoin dominance is still too high which means altcoins are still early. previous cycle total 3 reached higher than the 2.3 fib but this cycle and because of the law of diminishing returns I dont think the expansion phase will take us to the this level. Around 1.6 fib is a more logical target for this bull run.
My first take profit is between 1.1 to 1.3 trillion
My second take profit is between 1.6 to 1.8 trillion
Why ALTSEASON 2.0 is HEREIf you've been following for a wile, you'll know I've been speaking of Elliot Wave theory and cycles - and how, from a macro perspective, we are currently in a multi-month correction before another impulse wave up.
By looking at the TOTAL3 chart, as discussed in the video, it seems likely that this may only be the BEGINNING for altcoins... and you'll see why.
Even though multi-month corrections can be demotivating, patience rewards the faithful!
Check out yesterday's analysis on Altcoins that are strong right now despite the recent dip:
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CRYPTOCAP:TOTAL3
TOTAL 3 MARKET CAP Excluding BTC ETHCRYPTOCAP:TOTAL3
Bullish Flag Sooner or Later it will breakout and then the first target will be 780billion and then new higher high can go upto 900billion to 1trillion.
Altseason Incoming.
TOTAL3 Chart IdeaALTS are screaming buy here.
- Weekly RSI is below 50
- Stoch Weekly RSI is at the bottom
- TOTAL3 is sitting at 0.618 fib level on weekly
- Rising wedge on BTC.D in weekly TF has been broken down and retested
- ETH ETF is launching next week
Super bullish for ALTS atleast until Oct 2024
TOTAL3 Falling wedge is on goingI've been closely monitoring both the BTC chart and the market cap of altcoins (excluding ETH).
The current support level for altcoins is quite strong (Fib 0.618 on daily and weekly support). This support needs to hold if we want to see a recovery in the altcoin market or at least a stop to the ongoing decline.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
TOTAL3 Update - July 19 2024 We previously expected another drop in TOTAL3 after touching the resistance zone and stated that the break of the blue trendline shall be the trigger but it didn't happen and TOTAL3 crossed above the resistance level (good news for altcoins!). Just a little higher (around 660B) there's the descending trendline and it's quite possible that TOTAL3 will form a bearish structure and will probably drop afterwards so we should be looking for sell setups in altcoins
#TOTAL3 Possible Scenario#TOTAL3 Possible Scenario
Waiting for bounce from Support Zone
Waiting for bounce from MA
Altcoin seazon on the horizonAltcoin seazon could be coming sooner than you think This is total MC less BTC & ETH Look for the breakout of the bull flag regression channel and also the handle of the cup & handle bullish af pattern If we are now around where the green circle is at Feb 2021 then we have maybe as little as 8-9 months left in the bull run I would rather be cutting profits early than being caught offside with my pants down We will be looking closely at PA Q1-2 2025 for signs of over-bought weakness & greed all signs of an ending cycle The % gainz on this chart are not indicative of what Altcoins will do in the parabolic run Some Alts will do 10-50x and some much more
BTC Strong Bullish Momentum - Short Idea- Bitcoin broke Structure -> Bullish
- We look for a retracement into the CME GAP
- I explain our idea in this video
Total 3 - BTC this one is easy... wowThis is one of the most simple TA found, too easy, no news needed, no FA
$TOTAL3 is also PrimedThe everything rally could be playing out right before our eyes, pending JPow bringing the stimmy
TOTAL3 update - July 11 2024#TOTAL3 (Altcoins) update
Multiple tools and confluences (Supply zone, trendline, Fibonacci etc) are hinting that TOTAL3 is currently in a heavy resistance zone. so it's not wise to be on the Buy/Long side!
Crossing below the blue trendline is the confirmation of dumping to lower levels again.
Alt-Coins shows signs of bearish momentum.We have clear signs of RSI divergence on (Total3-USDT)/BTC chart.
This chart is basically an alt-season oscillator.
The maximum downside potential from here is another 27-30%
The upside reversal potential is at least 75%.
To not have FOMO I recommend investing 1/2 of alt-coin deposit in current range.
Another 1/2 of your founds should want a potential drop untill Alt-Coin re-accumulation zone.
There is chance that we'll have a mini bull-run on alt-coins at the end of 2024.
But first, another -30% -50% pain-full dump, as usual, on crypto market.
Alt-Coins shows signs of bullish momentum.We have clear signs of RSI divergence on (Total3-USDT)/BTC chart.
This chart is basically an alt-season oscillator.
The maximum downside potential from here is another 27-30%
The upside reversal potential is at least 75%.
To not have FOMO I recommend investing 1/2 of alt-coin deposit in current range.
Another 1/2 of your founds should want a potential drop untill Alt-Coin re-accumulation zone.
There is a high chance that we'll have a mini bull-run on alt-coins till end of 2024.
BITCOIN VS ALTCOINS Since the beginning of 2023 BITCOIN has been on a relentless upward trajectory. As the highest market cap cryptocurrency it often sets the tone for the entire market. When Bitcoin goes up it tends to drag the rest of the market up with it and the same when Bitcoin falls is the general rule of thumb.
This post is to showcase the difference between Bitcoins market cap (TOTAL) Vs the Altcoin market cap which excludes Bitcoin and Ethereum (TOTAL3) . As the market leader Bitcoin is often the first mover and that can be seen in the chart on the left, we have at first glass a mirror image on the TOTAL3 chart on the right but with a few key differences:
- When Bitcoin fell from its ATH in November, price found it's bottom at the previous cycles ATH as seen by the blue horizontal ray. Whereas the altcoin market continued to drop below its previous ATH by another 19.67% . It's an important difference because it shows that altcoins are worse off in a bear market when compared to Bitcoin, and they start from further back once the Bullrun arrives.
- We can see that both charts are very similar, the next biggest difference is clearly the progression made in this Bullrun so far. Bitcoin has already moved past its "right shoulder" of the head and shoulders price pattern, TOTAL3 however is still some ways off that mark, the chart shows altcoins have a 38% gap between current level and the top of that "right shoulder" .
The reason for the gap in the race can be explained the same way each cycle because they're exactly the same patterns each cycle. Bitcoin is the first mover as it is the biggest by market cap, the same cycle of capital injection happens each and every time:
BITCOIN ----> LARGE CAPS ----> MID CAPS ----> SMALL CAPS
Profits get rotated into the next more risky investment over and over until the blow off top and retail are left holding their positions all the way down. This will most likely still be the case this cycle however there is a new player on the field...
BTC ETF's...
This is new and exclusive to this cycle and I believe this will partly change the dynamic of the cycle when compared to years gone by. With over $10 BILLION DOLLARS of net inflows into BTC the institutional buyers are now here in a much bigger way than ever before, how will this disrupt the money flow? It could prevent profits from rotating somewhat into the large caps, but not completely. Naturally the ETF providers will have a large stake in the holding of BITCOIN and are going to be less inclined to sell when the cycle looks to near its end as they are still providing the service to their customers. Having less sellside pressure will help BTC hold its value.
The altcoins may get the negative side of this as less profits in theory will rotate into smaller cap coins and result in a smaller 'Altseason" . This is the cost of institutional adoption. There is always the possibility of altcoin ETF's but that is another discussion. For now I can see altcoins playing catch up later this year and going into 2025.
Alt Bottom Is InThe bottom for altcoins seems to be in. We're likely in for a bullish altcoin summer.
Altcoin marketcap is close to a bottom!www.tradingview.com
The chart above shows a weekly chart of the total alt marketcap(= the sum of all alt marketcap) over the last four years, along with the key-level 50-week moving average. Until 24 April, the key-level moving average (= resistance or support level, here support) for the price was the 20-week moving average (red line), but when the price broke below the 20-week moving average in 24 May, the 50-week moving average below it became the key-level moving average.
Interestingly, during the recent market plunge, the total alt market capitalisation temporarily came very close to the 50-week moving average, which suggests that the alt market capitalisation (and price) may not fall too much further. Of course, this is my personal opinion, so you may not agree with it, so please use it as a cross-check.
From here on out, the entire AltShares market should be supported above the 50-week moving average and endure a time correction. This is probably the last price and duration correction before the super rally.
TOTAL3 update - July 6 2024#TOTAL3 has crossed below an important support level and it seems it's currently in retest phase of the 565B - 580B resistance zone.
Some coins have hit their Aug-Oct 2023 lows and in case BTC aims to drop to lower levels, many other coins will also dump below their Q4 2023 lows!
so in short, the current green candles in the market are most likely temporary unless proved otherwise!
