TOTAL2 Retest, Likely Further Collapse - PitchforkTOTAL2 Has seen some great growth
there is more to come for the bulls but we are now jus taking a breather and gearing up
at the 0.5 line is a strong and likely point of support for this price action
Being tested as resistance three times, to be tested as a support? It will likely reject upwards and continue with the bull run.
Total
TOTAL2 Food for the Bulls - Dip being boughtThis is a great pullback to catch if you are looking to buy in to one of your favourite altcoins
All of them (basically) on sale!
I have been patiently adding myself
There has already been one bullish rejection along 2618 I expect another to follow, allowing the market to continue pushing new highs
A Trillion dollar washout…Total cryptocurrency market: -39%
Bitcoin: -43%
Total cryptocurrency market excluding Bitcoin:-41%
CRYPTOCAP:ETH
These numbers show, whole cryptocurrency market is in deep trouble.
I believe cryptocurrency market need more than a trillion dollars to gets back to its previous levels!
The most probable case is more than 95% of +4000 cryptocurrencies out there will become worthless (zero in value) in the next 3 to 5 years less than 1% will survive the next 10 years!
Don’t forget as soon as prices getting a little higher there will be many people ready to cut their loss or exit offset!
Currently I’m searching to find the next bubble! What could be the next? Those who find the answer, will be the winners of the next decade..!
TOTAL Crypto Market finding support and resistance 1.5 to 1.7T The TOTAL crycpto market cap has been in this 1.5 to 1.7T range before and has shown these lines to be both support and resistance. The big question is the market cap going to find support at 1.7T and then head upwards, or will it find resistance at 1.5T and head downwards.
This is a neutral post as I am unsure at the moment, but trying to see where the total crypto market takes support or resistance is a good starting point for me.
Best of luck out there.
John
$TOTAL Crypto Total Market Cap chart - up or down?Amongst all the news flow driving these cryptocurrency markets in the last week which seems to be creating a lot of FUD amongst the community, I thought it would be prudent to set aside the noise and look at the total market capitalization chart to try and identify what is happening behind the scenes in the crypto world.
From this chart you can see the chart has broken down from a Head & Shoulders formation which projects a target at approximately 1.8 trillion dollars. For now the market has bounced off the uptrend support line which has been in play since the start of the year largely on the back of the tweet from Elon Musk this morning where he informed us that Tesla has not sold any more bitcoin. Is this bounce sustainable or will we still proceed to meet the head & Shoulders target down at 1.8 trillion? If we do get this low I would expect a bounce but the bulls will then have a mighty battle on their hands as the uptrend support would have given way. For now, I will be closely watching if we manage to re-test the neckline of the Head & Shoulders formation and will observe how price reacts at the 2.12 trillion dollar level. If price rejects at the neckline (2.12 trillion) and starts to retreat then we could argue that the market will most likely move lower to complete the Head & Shoulders price objective at 1.8 trillion. Alternatively, if the price manages to reclaim and invalidate the Head & Shoulders formation, then I would see that as extremely bullish development for crypto markets in general and we should proceed to new highs.
As always, anything can happen and we will just need to wait and see what the market wants to do before making our next move.
Hope you enjoyed this analysis!
Alts MCAP (TOTAL2) AnalysisWe are either looking at a nasty rejection continuation
Or a double bottom formation and a break of this trendline that has been continually tested (3 times)
Personally the bear scenario sounds more logical to me, yet this is crypto so I accounted for both sides.
The 200MA (yellow line) wont hold if this breaks down. FYI
still Hope in TOTAL xDthis Daily channel is really firm. i wish the mid line is strong strong enough but it seems we will dump into the bottom of the channel.
NOTE: Im so begginer and these ideas is just for learning for myslef. i really want to learn more. so please Comment your idea for me to learn from You . Thanks <3
How to chart crypto market caps beyond TOTAL, TOTAL2, etc.! TradingView offers some awesome abilities to chart the entire market cap for cryptocurrencies using TOTAL, TOTAL2, and OTHERS under CRYPTOCAP. However, I often find myself having inquiries beyond just these symbols, so I would like to introduce how to show other market caps possible using some simple math.
For those who are unaware what the symbols mean under CRYPTOCAP, here is a brief introduction to a few of them:
* CRYPTOCAP:TOTAL - The entire market cap of all cryptocurrencies in the world such that if you were to own every cryptocurrency everywhere, this is how much money you would have
* CRYPTOCAP:TOTAL2 - TOTAL minus the the market cap of Bitcoin
* CRYPTOCAP:BTC.D - Also known as "bitcoin dominance", this represents the percentage of the total market cap which is made up of Bitcoin
* CRYPTOCAP:ETH.D - Similar to BTC.D, this represents the percentage of the total market cap which is made up of Ethereum
* CRYPTOCAP:OTHERS - TOTAL minus most of the cryptocurrencies provided by CRYPTOCAP that end in ".D"
Additionally, for a full list of what OTHERS omits, this can be found at the following page by excluding all the prices described under the section "Total Market Capitalization Dominance, %" on that page.
However, sometimes you might be looking for further market caps (e.g., just bitcoin, etc.). For these, here are some useful equations that might help you out:
* "CRYPTOCAP:TOTAL-CRYPTOCAP:TOTAL2" , aka "the TOTAL market cap for BTC" - The easiest way to calculate the market cap of BTC is "TOTAL-TOTAL2", since the difference between TOTAL and TOTAL2 is the whole of BTC by definition
* "CRYPTOCAP:ETH.D*CRYPTOCAP:TOTAL/100" , aka "the TOTAL market cap for ETH" - Since ETH.D is the total percentage of ETH in the market, multiplying this (as a percentage) by the total market cap yields the total market cap of ETH
* "CRYPTOCAP:TOTAL2-CRYPTOCAP:ETH.D*CRYPTOCAP:TOTAL/100" , aka "the TOTAL market cap of everything BUT BTC and ETH" - Since we just calculated the total market cap of ETH, and since TOTAL2 is the total market cap minus that of BTC, subtracting the latter from the former yields the total market cap minus the two largest behemoths
I should note as well that the market cap of any currency can easily be calculated using the formula ".D*TOTAL/100" so long as "COIN" in this formula has a "dominance" indicator under "CRYPTOCAP", e.g., XRP, LTC, BNB, etc.
To chart any of these symbols, simply enter in the above formulas (without the quotes) instead of the symbol when using the search box in the interactive chart in TradingView. For example, instead of searching for "BTCUSD", try searching for "CRYPTOCAP:TOTAL-CRYPTOCAP:TOTAL2" instead.
Hopefully folks find this useful for their future charting endeavors.
next market crash when total market cap reach 1.69 trillion I just analyzed total market cap chart exc BTC and came to conclusion that market moves in cycles and it respect fibonaci retracement extension levels if we draw fib retracement extension from february crash we come to 1.11 2.618 fib level which matched april market peak EXACTLY with horrible 17 18 april crash, next time lets pay attention to 1.69 trillion level
yesterday I analyzed BTC and 73 74K level need to watch out and even more forward 93K is from weekly and past cycles extension level VERY important
BTC made double top 14 april also bearish divergence plus there was little bit more than usual exchnage inflow when it peaked at 64K levels all this combined with mining problems lead to crash.
Just saying how we can try predict next big correction
BTC plus market cap when all start to align together time to be careful thats for future
IF we see crazy pump towards these levels plus bearish divergences on daily or 4H it definetley good idea to at MINIMUM PUT tight SL to your positions in alts. if I did that 17 april and rebought when BTC was 46900 my portfolio would be double.... we speak about 2X
what can happen if you sold and market moves still up ok you kinda loose few percent potential gains but better that then seeing 40% to 70% drop in your portfolio in few hours...
funny in terms of percentage it is also very similar from february to april market increased around 50% and if it goes to 1.69 trillion then it will be very similar increase
with last crash I understand you make biggest gains if you SELL on time!!! absolutely massive gains this is so incredibly important to smell potential correction
let me know any other ideas how we can smell next big correction... :)
The altseason goes on, BTC dominance to fallThe altseason goes on, BTC dominance to fall
As Hybrid Intelligence predicted, Bitcoin dominance declined as ETH and altcoins (DOGE!) outperformed the first cryptocurrency.
As usual, we’ve posted a question about the overall crypto market cap:
“The cryptocurrency Market Capitalization settled at 2242B USD at 12:00 PM UTC on Wednesday, May 5. Will the Market cap climb above 2410.2B USD (+7.5%) earlier than drop below 2073.9B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 81%
The market cap is set to go up according to Hybrid Intelligence.
Our second questions is specifically about BTC dominance:
“Bitcoin crypto market share settled at 46% at 12:00 PM UTC on Wednesday, May 5. Will Bitcoin's market share climb above 46.92% (+2%) earlier than drop below 45.08% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 9%
Clearly, Hybrid Intelligence expects the BTC dominance to continue to decline. This means the altseason continues.
TMARKET CAP, BTC and StockMarket (Y21.P3.Video1)Hi All,
Quick update as to what seems to be a good explanation for the crypto market slugging day or rally.
Not much happening with the ALTs as well as BTC and the Stock Market.
I do a quick assessment on all three.
All the best,
S.SAri
s3.tradingview.com
TOTAL index has a long way to be traversed!As you see the chart above (TOTAL index), I've counted the waves as you see.
I think it's now within wave 3/C. Thus after counting sub-waves, I think it's the third wave within 3/C.
Therefore in short-term period it should be terminated and after that it enters wave 4 which is a timing correction (possibly and due to wave 2).
Then wave 5 which is upward will begin.
So I think we don't have any problem about market cap in short-term period at least.
But be careful about the future!