After the Oct 10th liquidation event in the crypto markets has left a significant mark in the overall Crypto markets. After the 16 Bn $ liquidation the momentum in the Altcoins has been broken and the Bitcoin Dominance has started its upward journey. In this space I have always maintained my position that the
BTC.D has already had its cycle peak @ 66%.
BTC.D: Cycle tops are in.
ETH.D: Bounce form the all-time lows for CRYPTOCAP:BTC.D by RabishankarBiswal — TradingView
Since then the
BTC.D made a local low of 58%. Afetr the Oct 10th liquidation event the
BTC.D is slowly creeping up and now it is already @ 60% which has been the majot reason behind the
TOTAL2 failying to break above the Cup and handle pattern we have been follwing since months. We had set an interim target of 2.7 T $ in the
TOTAL2 market cap. This indicates an upside of 60% from the current levels. These targets seems improbable to me with only a few months left in the cycle. In my opinion it will be an achievement if we can even achive the previous cycle highs of 1.71 T $ which is 12% higher from current levels. This needs a major upside in the
ETHUSD Follow me here for more on
ETHUSD price targets in the upcoming weeks.
Trade Set Up :
TOTAL2 target revised downward to 1.71 T $ from 2.7 T $.
BTC.D @ 66% remains as a hurdle. Final push higher by
BTC.D before cycle ends.
Since then the
Trade Set Up :
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
