Is a massive correction for alt tokens about to print?
Updated
This is a short term forecast affecting anything inside the TOTAL2 market cap. That is the entire crypto market excluding Bitcoin.
The crash is forecast to occur over the next 14-20 days.
In four days from now a “life cross” will print on the above daily chart, it is inevitable.
What is a life cross?
It is when the 50 day simple moving average (blue line) crosses up the 200 day simple moving average (red line)
AND
Price action is above the 200 day simple moving average.
The majority of market participants see this as a positive sign. A green light to enter long positions. However for you lucky what is it now wow 14,000 followers (thank you!), you’ll now know it is not what it seems. Like me you're scientific about all this and look left.
But before we look left, I want you memorise how far TOTAL2 market capital is above the 200 day SMA, about 30%
November 12th, 2023 life cross -10% correction
Price action was 20% above the 200 day SMA
February 18th, 2023 life cross -15% correction
Price action was 15% above the 200 day SMA
February 2020 and May 2020, -70% and -17% corrections
Price action was 57% and 20% above the 200 day sma
April 13th, 2019. Life cross -23% correction
Price action was 34% above the 200 day sma
In summary, the further price action was above the 200 day SMA the harder it dropped.
We can infer that a 15-20% correction should be expected across TOTAL2.
Use this low as an opportunity to collect your favourite token from emotional sellers.
Ww
The crash is forecast to occur over the next 14-20 days.
In four days from now a “life cross” will print on the above daily chart, it is inevitable.
What is a life cross?
It is when the 50 day simple moving average (blue line) crosses up the 200 day simple moving average (red line)
AND
Price action is above the 200 day simple moving average.
The majority of market participants see this as a positive sign. A green light to enter long positions. However for you lucky what is it now wow 14,000 followers (thank you!), you’ll now know it is not what it seems. Like me you're scientific about all this and look left.
But before we look left, I want you memorise how far TOTAL2 market capital is above the 200 day SMA, about 30%
November 12th, 2023 life cross -10% correction
Price action was 20% above the 200 day SMA
February 18th, 2023 life cross -15% correction
Price action was 15% above the 200 day SMA
February 2020 and May 2020, -70% and -17% corrections
Price action was 57% and 20% above the 200 day sma
April 13th, 2019. Life cross -23% correction
Price action was 34% above the 200 day sma
In summary, the further price action was above the 200 day SMA the harder it dropped.
We can infer that a 15-20% correction should be expected across TOTAL2.
Use this low as an opportunity to collect your favourite token from emotional sellers.
Ww
Trade active
The life cross has printed, TOTAL2 now shows a bearish divergence between price action and RSI.
It is very clear what is about to occur when looking left. Take precautions and above all stay away from leverage!! The number of messages WW receives from folks losing huge chunks who cannot afford to is depressing to say the least. Be the 10%, the smart party.
Note
Has it begun?
Bull become bullish at the worst possible moment as always.
Note
There is not shortage of ETH, DOGE, XRP bulls leaving comments in the messages "This time is different"
I don't think so.
Daily chart
Note
Some messages ask about the depth of the correction...
It really depends on the token. Not everything is equal. 10-20% at best with a select few up to 50%.
Note
It begins.. Note
Correction almost complete for most.
This is an opportunity to be adding to existing longs, no to run scared.
If you lost all your money on leveraged liquidations, you now get to watch a roaring rally from the sidelines.
Trade closed: target reached
Note
The most brutal hum dinger of market corrections grows near.
Emergency rooms across the world will be occupied with cardiac arrest patients, once XRP and DOGE longs leaving "this time is different" comments.
This correction will be one for the crypto market historic books.
Ww
BTC
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Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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