Altcoin market capitalization, impulse wave scenario
Hello,
yesterday I posted the correctional wave scenario for
TOTAL2
, please check out the attached TA.
Here I project a possible impulse wave scenario for alt cap.
Lets assume that the former orange trend is now our resistance, the market has shifted in a slower paced uptrend (violet dashed line) and just started wave III.
Confirmation might be created by breaking the grey downtrend with a solid close above it. As always a retest of the former resistance will fortify the projected price action.
A bullish pattern that might form, is the W created by B -> C -> I -> II ?-> III.
The overall structure forms some kind of pennant, but I don't like its structure nor the time-frame.
As always this is not a direct advice concerning your asset management.
Trade safe
Nik
yesterday I posted the correctional wave scenario for
TOTAL2
, please check out the attached TA. Here I project a possible impulse wave scenario for alt cap.
Lets assume that the former orange trend is now our resistance, the market has shifted in a slower paced uptrend (violet dashed line) and just started wave III.
Confirmation might be created by breaking the grey downtrend with a solid close above it. As always a retest of the former resistance will fortify the projected price action.
A bullish pattern that might form, is the W created by B -> C -> I -> II ?-> III.
The overall structure forms some kind of pennant, but I don't like its structure nor the time-frame.
As always this is not a direct advice concerning your asset management.
Trade safe
Nik
Comment:
Lets see if the retest is one, breaking the grey line downwards implies that wave C of the attached bearish analysis has become much more plausible.
