TOTAL 3 (EXCLUDE BTC AND ETH)There will probably be a mini rally in an ending diagonal, then a big collapse for alts is coming. Do not hold; just buy and sell.
TOTAL3 trade ideas
Altcoin season May-June 2023Hi guys,
Looks like we hit the bottom or we are very close in regards of a potential upside move for altcoins. This would be confirmed with a drop in btc.d and a stable overall total market cap.
We noticed a 4h bull div on the RSI vs price. First targets marked on chart, get above & we fly.
Happy hunting !
ALTCOINS - TOTAL3 Very SmiliarLooking at TOTAL3 (Altcoins excluding Btc & Eth) we see something very similar to TOTAL2.
We had a double bottom (around $290B) which is EXACTLY our 0.236 of our macro Fibonnaci trend from the covid crash to the 2021 peak right around $1T. I have outlined all subsequent fibonnaci levels of this trend as well. We know this fib trend is valid as our 0.382 ($450B) became resistance before falling to the 0.236 as support. We have also caught bids for altcoins in our green box of support. This was the macro resistance of 2017 that buyers have been trying to defend as the new support region.
Also on our HV indicator, March & May marked volatility lows around the key 27 level. If altcoins are to stagnant more then a revisit of the 27 level would be when to expect that volatility to surge through altcoins across the board.
Altcoins $TOTAL3 looks good, but weakness likely lingers#Altcoins still look good although the weakness we are seeing is needed for the FLAG formation.
The 4Hr chart shows that weakness may be a lil longer.
CRYPTOCAP:TOTAL 3 = No CRYPTOCAP:BTC or $ETH.
Obviously some #crypto look better than others.
When Alt season? When moon? When rocket emojis?We are yet to see first, a pullback by BTC coupled with stock market correction and destruction of Alts. Capitulation by both price and time.
Notice in prior cycle with 714 days of red and current 574 days of red at most recent bottom of TOTAL3.
NOTE: 2020 Feb-March has been omitted as a black swan (anomaly)
Recession is looming and true scale to be surfaced. Bankruptcies and commercial real estate pain needs to pass. FED cannot pre-maturely ease monetary policy otherwise a wage-price spiral is at risk and unraveling of inflation expectation demands.
I've mentioned Blackrock ETD and it's CEO going on CNBC, the point I'll re-iterate is that if markets are now bullish as they make it seem, why haven't we broke past $32k Bitcoin decisively yet?
Insert meme: "IT'S A TRAP!"
In case of an Alt coin runDear team.
Considering the fact that we might be entering an altcoin run, i would like to advise that from Elliott Wave perspective, things might not be so clean and easy to predict.
Motive wave or clean impulse proceded by a clean zig zag 3 wave move into the golden zone is the easiest textbook example that is not happening as often as we would like.
There are moments where waves 2 might be done and we cant even recognise it.
Waves 2 are most of the time deep...BUT they dont have to be deep. When crypto goes, it goes strong
What i am pointing out here is ...
As Elliotitians, we want to pick our entries and leave the mouse and keyboard, and let the history print itself.
You can, however set your take profit areas because taking partial profits didnt hurt anyone.
What you shouldnt do, is assume that there is only one way of motive wave to develop and to try to outmart the market by trading every supposed move that you think you might see. Dont be a rabbit . Dont rush your decisions.
Especially trying to short potential corrections if you are strong biased that we are in the bull run.
In the end, turtle was faster than the rabbit.
EW= Turtle power/way of trading.
There is a potential (will repeat that its a potential) for some alts to go strong in this run. So if you had golden hands to hold them all this time, make those hands diamond and be patient with them rising potentially during the year 2024.
Bearish 5-0 on (Total 3 Excluding - LTC and Stablecoins)There is a Bearish 5-0 visible on the Daily on the Total Market Cap Ex- BTC, ETH, LTC, and the two big USD-based Stable Coins; if it plays out, I think Total 3 will make a new low that will likely take it down to the macro 0.886.
We also have some Hidden Bearish Divergence on the RSI to back it up.
RetestLooking on the sht pattern and indicator, TOTAL3 will probably retest the 330B range value.
July 15th has passed
Trade safely.
Total 3The future of the cryptocurrency market shines bright,
In the coming months, expect a remarkable upward flight.
TOTAL3 Breakout - Altseason 2023?The TOATAL3 chart has been in correction for almost two years (600 days).
This correction formed as a Falling Wedge, which is a bullish reversal pattern.
Yesterday, following the court ruling about XRP’s case as “not a security,” TOTAL3 broke out of the wedge to the upside.
The final confirmation is if TOTAL3 gets above resistance at 407 billion USD.
What do you think? Please share in the comments.
Best Wishes.
Total3 1440If we have a high consolidation, we will see a Saudi move across the entire market, and the market volume will rise dramatically.
Thank you for your attention.
T3 5DHi!
Oops, it's been a while since I opened up
TOTAL3 to see what we have here.
I mentioned in an idea a couple of months ago
that I liked 5D timeframe,
which has often replaced a 1W for me.
And I turned it on just in time on this chart.
A death cross of the EMA 200/100 is forming.
Right now. For the first time.
Usually this thing acts like a hammer.
If you turn on the logarithmic chart display,
you can see that there is not much
left before the trend line touches and the point may lie
at 260-290B, depending on the rate of decline.
But I really have a bad feeling about this.
The price has already approached the trend line,
but the cross has just formed
and of course it will not dissipate in the next year.
Does it mean that the price will go under the line?
It is possible.
But after the breakdown of the line there is no way
to predict how deep it will go.
The VFI as you can see is confidently moving in bearish territory
and the long EMA of volume looks there as well.
As usual, draw all conclusions on your own.
I am not making any altcoin purchases yet.
P. S. I saw a rather curious opinion of @HustleGrindMomentum
This is what he writes:
"When i see the market do its thing, BTC and ETh go then ALts pump etc I am ready for more upside or at the least sideways accumulation phase but when we see a btc eth rally and then TOTAL and esp TOTAL3 dont pump above BTC or and TOTAL below TOTAL3 and BTC and ETH below both of those when compared on the same chart we see downside. this is not money entering the market but people getting out of DeFi ALTs you name it via BTC and ETH. this is time to run not buy last time I saw this in the charts we took a 35 to 40 percent crypto market DROP food for thought. for me and mine we dont want to spread to thin rite now and r ready to exit the market quick fast and in a hurry if needed."
I think this is an important insight, and I certainly don't have a better version of it.
I see the process, and he has an explanation.
TOTAL3Only needs ~25% across the board to reclaim this bear market 2019 trendline from the cover crash
25% isn't that much in crypto and with Blackrock news keeping the btc bid fairly strong
Alt/btc/eth pairings have been getting annihilated back to yearly lows so a relief rally myby?
Still a while till next halving event so loosing this trendline until then could be a thing also...
TOTAL3In the past i did make some wrong judgement toward total3 but i admit the journey isn’t completed lost until we see what happen this month.. i will be staring at total using the weekly level to see what will develop in coming weeks ahead. But so far I do have some insightful thoughts that if we indeed rebound from this demand level.. there’s room to grow upside..
Altcoin Season soon? 😲Chart speaks for itself. This is how BTC looked before its breakout from a similar falling wedge.
Now altcoins may follow.
Breakout this summer for altcoins?
Let me know what you think in the comments.
TOTAL3 | ALTCAP minus ETHA huge Head and Shoulders bottom is forming for the TOTAL3 ALTCAP.
The red boxes show the key resistances to clear before fresh ATH's can be printed.
In green a possible trajectory is shown to the 1.618 extension target of this whole correction.
Invalidation: a drop below "Head"
Total 3 TOTAL3 - Total Altcoin Cap excluding BTC & ETH, Rising above the nearest resistance line, Green line, waiting for a 2D candle close tomorrow morning 7am above this level, this can be considered a good support altcoins.
HA candle turns Green, no lower beard indicates a strong uptrend
Expect over 10% gain for Total3 in July.
Wish you all a big win in July.
ALT SEASON IS HERE!!!Sometimes I just draw lines and throw stuff at the wall to see if it sticks. So I had some fun with log graphs on BTC and Market Cap excluding BTC/ETH, AKA Alts. The following chart is the alt market cap. The yellow vertical lines are halving dates or expected halving dates. (April 16,2024 per time of writing). The blue lines are the approximate market bottoms. The purple lines are support trend lines that follow each bull rush.
We witnessed a double bottom after the FUD of the SEC declared war on alts. #FireGensler trending near you. This number was conveniently at approximately $300B. Which is a near 10x factor from the $30B alt market bottom from previous bullrush. This double bottom was similar to that of the past crypto winter around the black swan covid event. One could say that the SEC declaring war on the two largest crypto exchanges in the world could trigger a small "black swan".
Finally I created a downtrend triangle that signified the market resistance throughout crypto winter. In the previous cycle as the market cap begun to break resistance, FUD was there to make sure it double bottomed. The SEC fud created a double bottom that now will signify the start of alt season. The purple lines point to a potential 10T market cap top for alts and a market bottom of $3T during crypto winter.
At the time of writing Gary Gensler was rumored to be resigning due to an internal investigation. Fidelity, Ark, 21Shares, Blackrock, Bitwise, Invesco, WisdomTree, Valkyrie, VanEck, and Citadel are either creating their own exchange or have filed for a bitcoin spot ETF, with most selecting Coinbase as their exchange for policing. If the cases against coinbase, and alts as securities are dropped and if large scale financial institutions continue their purchasing of bitcoin it is not unfathomable that we will see large sums of money thrown into the alt market cap.
Buy, hold, and enjoy the ride.
Disclaimer*: This is not financial advice and the writer owns alt coins such as SOL, ANKR, SHIB, and AUDIO at the time of writing.
Altcoins Double-Top, DXY Double-BottomShould TVC:DXY move back down to the bottom shown on the chart above, the altcoin market could move back to its top.
There is also a possibility of this happening if DXY simply moves sideways for an extended period of time.
However, if DXY moves back up above 105-108, hits 112-116 and continues, expect the altcoin market to move much further down.
Why?
The altcoin market and TVC:DXY are significantly negatively correlated, moving in near mirror-images of each other.
DXY correlation with alts (and Bitcoin, Stocks, etc) does cycle into the positive at times, but predominantly remains in negative correlation, long-term. This makes sense, too:
as the dollar index strengthens or inflates, the vast majority of everything that can be purchased with it will lose value
as the dollar index weakens or deflates, we see them gain in value.
TOTAL3/USDT GRAPHWhat if this range is actually a power of three setup?
PO3: Consolidation, then manipulation (the false move), and then an expansion in the opposite direction (the real move).
Not a financial advice
