DrDovetail

Altcoin market attempting a simultaneous h&s/deathcross fakeout

CRYPTOCAP:TOTAL2   Crypto Total Market Cap Excluding BTC, $
Looking here on the total2 1day chart(which excludes bitcoin) we can see the altcoin market has recently had a deathcross and has been sending wicks down below the neckline of a sizeable h&s pattern...yet today the Altcoin market finally got a bounce....it appears maybe one of those situations where it's always darkest just before the dawn and that as long as the alts can close above the 1 day 50ma and hold it as solidified support that not only will we confirm the H&S to be a beartrap fakeout but the deathcross as well should then flip back over soon after into a true golden cross and hopefully finally kickstart the altcoin bullmarket. If we look back at what finally kickstarted the 2015-2017 bitcoin bullmarket we can see it too back then had a 1 day goldencross that soon after did a brief deathcross and it wasn't until that then flipped back into a goldencross that the bitcoin bull market finally began. I think we will see something very similar to that this time for the alts. So is the long awaited altseason finally right around the corner for Q4? very very possible...but only if they can maintain solidified support above the 1 day 50ma first. Baby steps altcoins...babysteps.
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