Totalmcap
TOTAL Volume analysisTOTAL has been on a massive bull run since the release of cryptocurrencies. PVT shows huge demand for cryptocurrency. Cumulative volume index shows a steady increase of buyers flowing into the market. Overall net trend is looks extremely positive. Included a fractal that shows a possible price reversal point at the long term uptrend.
TOTAL2 Massive island topFurther downsides expected in this bear market, this island top could reach a critical point where it flash crashes to, or near the 0 fib line.
TOTAL2 Bearish ActionSitting on bottom of Gaussian channel, room to either break channel or move upward. TOTAL% > TOTAL2% Bearish move imminent is my best observation from these two charts.
Atlast the priceline entered in potential reversal zone of SharkAtlast the priceline of Cryptocurrency Total Market Cap. Exclude Bitcoin is entered in potential reversal zone after completing a bullish shark pattern.
The stochastic is already in oversold.
Volume profile of complete pattern is showing very low interest of cryptocurrecy trading at this area.
Histogram of MACD was strong bearish now it turned weak bearish from 1st to 9th Aug on four day chart, So this blink is an indication of bull signal soon.
We have a golden cross formation between 50MA and 100MA and both moving averages are also the strong support for the price action.
Since after Dec 2018 this is the 1st time that the price action is hitting the bollinger bands support.
Since after Jun 2018 atlast 1st time the ichimoku cloud is turned strong bullish and lagging span is still above the priceline, now the candle sticks are hitting the spike at bullish cloud.
RSI upto 2 day chart is oversold:
We have a strong support at: 75278567254, if the price action would be reversed from here then it can form a strong double bottom formation insha Allah.
So there are more indications that the altcoin bear market will be ending soon rather than the continuation of bearish market.
I have used Fibonacci sequence to set the long position and short position area as below:
Long position area starts from: 73021550046 to 59531072880
Short position area starts from: 90010083679 to 122244430179
Regards,
Atif Akbar (moon333)
