TOTAL Market Cap - Critical Support!
Crypto Total Market Cap, $CRYPTOCAP
Description
⋅ Hello TradingView Family, this is Richard.
I usually keep an eye on TOTAL to get a feeling about the overall crypto market bias. Just like I keep an eye on DXY when it comes to Forex.
As per my last TOTAL analysis, we are still bearish trading inside the red channel/wedge.
The reason for this update is to highlight that the Head & Shoulders Textbook target/projection is filled. As marked in purple.
Moreover, TOTAL is diving inside a horizontal support (in green) and approaching a non-horizontal support/trendline (in brown)
But of course, that doesn't mean that the bulls are in control. Not yet!
For the bulls to take over, we still need a break above the last high and the upper red trendline.
Meanwhile, until the bulls take over, TOTAL would be overall bearish and can still trade lower and lower.
All Strategies Are Good; If Managed Properly!
~Rich
Thanks for sharing ...