DrDovetail

Potential bearmarket adam & eve double bottom on totalmarketcap

Long
CRYPTOCAP:TOTAL   Crypto Total Market Cap, $
we can see here how we have almost reach the first bullish breakout target on the total crypto market cap chart of the yellow 1 day falling wedge. we are now finding resistance right at the neckline of a potential adam and eve double bottom which is either a 1 day, 3 day, or weekly pattern. Considering we haven't yet hit the yellow falling wedge target and we still have a very long way to go if we are indeed triggering the much larger weekly falling wedge pattern, which it certainly looks like we will be, then we are very likely to trigger the adam and eve double bottom here as well which would essentially in my mind signal that the bottom was in back in december around 3.1k or so. Interestingly enough it was around this time last year that I was watching a fractal of a potential adam and eve double bottom on bitcoin. that fractal was very very similar to another smaller adam and eve double bottom that happened right before the major bull run so I was anticipating it would be what flipped us back into a bull market but that adam and eve double bottom did a fakeout right at its neckline then plummeted eventually dipping low enough to invalidate the pattern. We need to be prepared for a neckline fakeout here too but this time we have so many other bullish patterns converging and triggering at once that I think a fakeout is far far less likely and probability indeed favors a breakout.
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