Altcoin market capitalization, correctional scenario conditions
Hello fellow trader,
depending on the price action of the next weeks, this projection might gain increased likelihood.
Watch the next weekly candle closely, there is the possibility that it might shape an evening star candle stick pattern -> www.investopedia.com...ms/e/eveningstar.asp
At least there is a dojo candle, which is an indicator for a change in trend.
The price needs to retake the former support (orange dashed line), the longer it lingers underneath it, the less likely an upward breakout becomes.
At the moment we see a big wedge might be formed by the larger correctional wave.
This is just my bearish view on the price action, don't take this as a direct advice for your asset management.
Trade safe
Nik
depending on the price action of the next weeks, this projection might gain increased likelihood.
Watch the next weekly candle closely, there is the possibility that it might shape an evening star candle stick pattern -> www.investopedia.com...ms/e/eveningstar.asp
At least there is a dojo candle, which is an indicator for a change in trend.
The price needs to retake the former support (orange dashed line), the longer it lingers underneath it, the less likely an upward breakout becomes.
At the moment we see a big wedge might be formed by the larger correctional wave.
This is just my bearish view on the price action, don't take this as a direct advice for your asset management.
Trade safe
Nik
