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TOTAL2 shows crypto has started the multi years bull runPrice has broken out of a 3 years triangle and has touched the top of the monthly Bollinger band for the first time since January 2018. A very similar pattern occurred at the start of 2016 two years bullrun. It is very hard to believe that this breakout is fake and price will "nuke" back under the triangle, since touching the upper BB band on the monthly is not a trivial event and never resulted in price "nuking" down , not even testing the BB midband, Monthly MACD positive and similar to the start of 2016 bullrun. This is a clear indicator that price is in a bullish trend and to revert to a bearish trend requires a lot time and effort on the part of market makers. This also dispels the myth of BTC pumping will cause Alts to suffer. The BTC up Alts down, BTC down, Alts down narrative, is true in the correction period between the major bull run. In this run, BTC and Alts will both pump and Alts more than BTC, to such an extent that an Alt will replace BTC in dominance (see idea below).
CRYPTOCAP:TOTAL2Long
by nagihatoum
17
Intermarket Bitcoin - Breakout or Failure UpdateToday we will examine the intermarket analysis that we did 2 days ago and update the tally for bullish, bearish, and neutral indicators. First we will cover TOTAL, TOTAL2, BTC, and ETH. Lets have a look! Here we have an overall view of the market and a lot of neutral indicators. Anything labelled retest still needs to happen. Once the retest occurs, we will be able to see a breakout or a failure. Lets give it a count! Bullish = 2 Neutral = 6 Bearish = 0
BITSTAMP:BTCUSD
by derzzycharts
1
TOTAL MARKET CAP (Y20.P4.E1).Correction still playing outHi All, I thought I have a look at the total crypto market cap and see what's going on. Here are my thoughts: OBSERVATION: ========================================================================================================== > WEEKLY chart: price action has so far found support and holding which has confluence with the weekly 21 EMA; A retest of the support line? The Phoeix has downward pressure however a deep pullback is not expected based on the green and red RSI positions; > Daily chart: support found on the daily 100 EMA as well as the 0.5 fib retracement although 0.618\0.382 fib looks more likely to be the area of most demand = 290 Billion The MACD has a bearish tone as well with the downward projection. Watching this space of the MACD and Signal merging will give us a clue if there is a bounce coming for the total market cap or a rejection. > 4 HRLY chart: indicators show downward pressure and the formation looks like a bear flag; THOUGHTS: ========================================================================================================== The correction pullback is to continue with downward pressure however not deep and hence the likelyhood of the macro uptrend is intact. The daily MACD is likely to not cross over based on the formation of the price. Looking at the ALTs, it seems many have downward pressure and looking like a bottom reversal formation is taking place, some having more to drop, others staying at their 0.618 level. It means we are likely to be here for a while and able to buy back crypto at a cheaper rate. If you review my SP500 post, this also translates with BTC. Hence my opinion of BTC going to the low 9K's is still valid. Also BTC dominance chart can support this thesis as well. The SP500 and Gold charts do as well. Please give me a tick or like for this post. Regards, S.SAri. WEEKLY Chart: DAILY Chart: 4 HRLY Chart:
CRYPTOCAP:TOTAL
by ssari
7
Now vs "Volmageddon"Whenever there is a possible trend flip, we want to look at any clues that we can to understand if there is going to be a change. In this chart we have TOTAL, TOTAL2, BTCUSD, and ETHUSD all compared to eachother. February 24th, 2020 is the date for "Volmageddon". Here we have 3 of the 4 breaking trend and going from bullish to bearish. The only one that stayed bullish was ETHUSD. This gave us higher confidence of a trend reversal to bearish. So what is different about today? As of September 3rd, 2020, we have 2 of the 4 breaking trend from bullish to bearish, with the other 2 remaining bullish. So it is a little more of a toss up. When something is 50/50, the trend is more likely to continue than reverse. So even though there may be more bearish downside in all 4, the chance of a trend change is less likely. So until we see the other 2 break bearish, we are selectively adding capital back to the market. Happy Trading!
BITSTAMP:BTCUSD
by derzzycharts
4
Incoming Drop for Total Crypto MarketMethod: 1. Draw best representative overall trend line (green) 2. Draw fibonacci retracement from local minimum to local maximum following the 2018 peak -> I consider this local minimum as the start of the "new era" of crypto as during this time, many financial institutions have started to on-board to crypto -> There is considerably more crypto awareness both in the political sphere and the mainstream after this point 3. Using the same local mins and max points from #2, draw fibonacci time zones 4. Turn on RSI , which shows the strength of market according to historical price 5. Turn on volume indicators, which shows strength of market according to historical volume Thoughts: - Downward volume pressure seems poised to overcome upward volume pressure. - RSI shows bearish divergence. - Fib time frame indicates a significant price movement. - Resistance from June 2019 peak has been hit. Prediction: - Price will likely move downwards in the coming days, but will work to create a higher low, either at the .382 or the .236 fibonacci support. - Crypto is heading up in the long term, however, this movement upwards will likely look different than the run-up of 2017-2018 as institutional money plays a larger role in this new era.
CRYPTOCAP:TOTALShort
by Kickyou77
TOTAl MARKET CAP (Y20.P3.E1).A quick look at the marketsHi All, It is good to look at the general markets to gauge the whole picture as to what's going on for Crypto is not immune to global pressures, the black swan effect proved that. BTC or crypto is getting there or we would like it to get there but that might be another 10 years away where it can stand on its own. The above chart is interesting, which basically totals up the whole crypto $$ and this to shows how money in brought in to the eco system. What can we take from this and the other markets, here is my summary. a) The total market cap is approaching a key resistance as per chart and it won't surprise me at the first touch, that we have a small BTC pullback, if not now with the reattempt of 12500 or after that 12800 which might hit the b) The SP500 and NASDAQ chart shows that the stock market is still with upward pressure which is good news for BTC or crypto; c) GOLD just did a bounce and will soon likely to break up for more gains; All in all, everything looks good with upward pressure, maybe too good.? Reuters > Market sentiments at "It's no longer a "bear market rally" - BofA survey" The long gold trade was the second most crowded, with a net 31% saying the metal was "overvalued", the most since 2011 after no participants said they considered it to be so last month. Gold XAU= rose above $2000 an ounce for the first time earlier this month. As global equities near record highs again, strategists told Reuters that the quickfire bear-to-bull switch was not only justified but deserves to go further.. *** This is when the market will cash in some big profits, soon. CRYPTO Total Market Cap CHART, Weekly: Weekly indicators still have upward momentum however with the Phoeix, we can see energy starting to slope downwards and with its black dot, indicating caution. The green and red RSI on the Phoeix is still bullish territory. This weeks candle closer will tell us if we are going to have a reversal or if we are going to have new highs. MACD weekly signals are wide apart showing bullish market still. ========================================================= SP500 CHART ========================================================= NAS 100 CHART MY BTC Macro hypothesis for now
CRYPTOCAP:TOTALLong
by ssari
1