Welcome to this quick Update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures.
The Total2 which shows us the total marketcap excluding BTC. Looks bullish and we can see an inverse H&S formation. The candle already broke above the neckline support. Once we see a daily close above the $1.35 trillion mcap. It could easily pump towards the $1.65 trillion mcap. The index is trading above all important EMAs in this 8 hour chart, shows bullishness in altcoins. Every single altcoin will pump like crazy if this pattern pays out perfectly. I was bearish a few days back TBH, Since it got rejected from the resistance but eventually rallied again to form the right shoulder of this pattern.
On confirmation I will be posting futures and spot calls soon. We will not miss the last quarter gains.
Invalidation of this chart will be a close below 21MA, Currently $1.3 trillion.
What's your thought on this?
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Thank you
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Weekly shows a massive Cup and Handle in making. Break and close above $1.48 in weekly will trigger one of the biggest ALTSEASON in the last few years...
Your trend analysis is great. For 8k ETH we need around 550B $ and for 10k ETH we need almost 800B $ :/ so not gonna be a great November for ETH. Which altcoin do you think will benefit the most? I think DOT has a good uptrend potential in November