Bullish Altcoin marketI think we will see a continuation of the bull market for Alts as long as it keeps support. It would still be bullish to see come back down again to 0.5 fib level and the 2nd lower trendline. If it doesn't correct again we should see market go to the 1.618 fib level.
Any comments or advice on my TA is greatly appreciated :)
*not financial advice*
Total3
TOTAL3 Ascending Triangle PatternCRYPTOCAP:TOTAL3
I have been following this massive ascending triangle that has been forming on the TOTAL3 chart since the May correction. Notice how price has been unable to close any daily candles above the flat upper resistance bound. In the past few weeks this chart has consistently printed "doji's" as the consolidation inches closer to the upper resistance line. There is a clear ascending lower resistance bound that has formed as well.
The breakout target for this pattern would indicate a 70% move to the upside for this TOTAL3 index which would send many altcoins parabolic. It appears that price may continue to consolidate inside this pattern formation for up to 2 more weeks (~Nov.12).
My trading plan is to wait for a daily close above the resistance line and then open long positions in a few different altcoins that I feel have been suppressed. Best of luck to all during this coming altseason.
TOTAL 3 TO THE MOOONprice action makes me to think that exchanges are in pain for altcoins. there could too much longs or another sick situation for them to dump the altcoins. i dont know. But there's a clear cup and handle and for my prediction it will going to rise very sharply soon if there wouldn't any blackswan event. I dont think Bitcoin can go new ATH without altcoins. we can see big moves up and down on BTC.D.
Look for;
1.TOTAL3/TOTAL2 (Weekly)
2.TOTAL 2 inverted (Weekly)
3.BTCUSD inverted (Weekly)
I cant insert the links because I am not a PRO member. Just take a look the charts above and make your own desicion.
TOTAL3 Cup and Handle FormingImportant things to note:
The basing pattern can been see in a lot of different altcoins depending on their release.
There is a strong basing pattern followed by the formation of a handle.
I have created the target if the pattern completes.
Target is depth of cup added to the top of the cup.
543 + 922 = 1456
This target will represent the boom of altcoins during the rest of the bull cycle.
Market cap will likely be higher than this when the dust settles.
So, I decided to take a break from ADA today since I have said everything that needs to be said at the moment and we are just waiting. What I wanted you to look at was the market cap of the total3 which includes all altcoins except BTC and ETH. If you have any worries of where the market is going, just take a look at the pattern forming at the moment. We have a strong basing pattern (which has been seen in many altcoins) followed by the handle which is forming now). Personally, I do not expect this pattern to break to the downside. BTC has reversed its bearish trend and is back to bullish. I have created the target you see by adding the depth of the cup to the top of the cup which gives us a target of 1456. This altcoin boom will be represented in the rest of our bull cycle. I think the biggest runs will line up with the approval of the 4 BTC ETFs with deadlines of Nov. 21, Dec. 8, Dec. 11 and Dec. 24. Some people (like PlanB) have suggested the bull run might go a bit longer than originally thought, (at least 6 months). I don't know anyone better at predicting long term trends using stock to flow modelling than PlanB. Anyways, I hope you all sit back and enjoy the fireworks. Smaller altcoins will likely run 10X or more, and larger ones can see a 3-4X run in my opinion. We will see how this goes! Thanks again for the support everyone!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Possible breakout in the altcoin marketSo as we can see here, there is a pennant forming in TOTAL3 (altcoin market excluding ETH). It's basically the same in TOTAL2 (altcoin market with ETH), but there are more points to the upper resistance trendline on the pennant in TOTAL3, so I thought it was more accurate.
As this is a continuation pattern, it's most likely to have a breakthrough. In that case, taking the height of the flagpole to a possible breakout point there would be 60% gains until 1.4T market cap and a massive rally till the end of the year possibly.
If there is a breakdown, there would be a 60% drop in the market cap of alts an we would continue to be in a bear market.
Even if there is a breakdown we need to watch the 20 and 50 daily EMA because if the PA breaks these supports and the 20 crosses the 50 that would confirm the continuation of the bear market.
In addition, if you look at the PA, it is very similar to the period from December 2020 to February 2021, and after that the bull run continued.
This is not financial advice, DYOR. Don't listen to an Explosive_Cow ;)
If you found this helpful drop a like and a follow if you want to see more of my ideas :D
TOTAL MARKETCAP!The Total Index was within the resistance range to which it reacted and experienced a relatively heavy correction market. According to the 4-hour chart, Total was moving within a bullish corner pattern, which, with its loss, seems to have entered a corrective phase in the market.Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
Heads Up TOTAL 3 Bat Pattern Potential
Per Scott Carney at Harmonic Trader
Quick reversals from Bat pattern PRZs are quite common. In fact, valid reversals from Bat patterns frequently possess price action that is quite extreme. The pattern incorporates the powerful 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The most ideal B point alignment is the 50% retracement of the XA leg. CRYPTOCAP:TOTAL The Bat utilizes a BC projection that is at least 1.618. The BC projection can be as much as 2.618. However, the most ideal BC projections in a Bat pattern are a 1.618 or a 2.0
TOTAL 3 (Total Market Cap Exclude BTC and ETH) Analysis 27/07/21Fundamental Analysis:
Total 3 is an index of the cryptocurrencies Market capitalization without BTC and ETH, it means it is the Altcoins entire market capitalization and it can help investors and speculators who use Altcoins and Tokens for their Benefits.
this index is very useful for the Altcoin followers and Investors as it shows the inflows of the Capital to the Altcoin environment and it its movement are very good indication of the alt seasons.
this index can be used for the DEFI Growth Speculation also as it contains all of the DEFI Token and Coins.
Technical Analysis:
there exist a Regular Bullish Divergence with MACD Histogram and Price which is the sign of Retracement Completion as the Price is at the Retracement Golden zone of Fibonacci.
the said divergence can be more accurate as we can see Price is reaccumulating at the percent level which is the very good sign of trend reversal and start of a new Bullish wave hence the new cycle.
we may have some more Price Dump as well, up to the 78.6% Fibonacci Retracement zone and then start its rally in more bearish case.
there are total of 3 Targets defined for the upcoming impulsive wave with Fibonacci projection tool.
the 3 TP gets confirmed as soon as the price triggers the 2 Target