Hi!
Oops, it's been a while since I opened up
TOTAL3 to see what we have here.
I mentioned in an idea a couple of months ago
that I liked 5D timeframe,
which has often replaced a 1W for me.
And I turned it on just in time on this chart.
A death cross of the EMA 200/100 is forming.
Right now. For the first time.
Usually this thing acts like a hammer.
If you turn on the logarithmic chart display,
you can see that there is not much
left before the trend line touches and the point may lie
at 260-290B, depending on the rate of decline.
But I really have a bad feeling about this.
The price has already approached the trend line,
but the cross has just formed
and of course it will not dissipate in the next year.
Does it mean that the price will go under the line?
It is possible.
But after the breakdown of the line there is no way
to predict how deep it will go.
The VFI as you can see is confidently moving in bearish territory
and the long EMA of volume looks there as well.
As usual, draw all conclusions on your own.
I am not making any altcoin purchases yet.
P. S. I saw a rather curious opinion of @HustleGrindMomentum
This is what he writes:
"When i see the market do its thing, BTC and ETh go then ALts pump etc I am ready for more upside or at the least sideways accumulation phase but when we see a btc eth rally and then TOTAL and esp TOTAL3 dont pump above BTC or and TOTAL below TOTAL3 and BTC and ETH below both of those when compared on the same chart we see downside. this is not money entering the market but people getting out of DeFi ALTs you name it via BTC and ETH. this is time to run not buy last time I saw this in the charts we took a 35 to 40 percent crypto market DROP food for thought. for me and mine we dont want to spread to thin rite now and r ready to exit the market quick fast and in a hurry if needed."
I think this is an important insight, and I certainly don't have a better version of it.
I see the process, and he has an explanation.
Oops, it's been a while since I opened up
TOTAL3 to see what we have here.
I mentioned in an idea a couple of months ago
that I liked 5D timeframe,
which has often replaced a 1W for me.
And I turned it on just in time on this chart.
A death cross of the EMA 200/100 is forming.
Right now. For the first time.
Usually this thing acts like a hammer.
If you turn on the logarithmic chart display,
you can see that there is not much
left before the trend line touches and the point may lie
at 260-290B, depending on the rate of decline.
But I really have a bad feeling about this.
The price has already approached the trend line,
but the cross has just formed
and of course it will not dissipate in the next year.
Does it mean that the price will go under the line?
It is possible.
But after the breakdown of the line there is no way
to predict how deep it will go.
The VFI as you can see is confidently moving in bearish territory
and the long EMA of volume looks there as well.
As usual, draw all conclusions on your own.
I am not making any altcoin purchases yet.
P. S. I saw a rather curious opinion of @HustleGrindMomentum
This is what he writes:
"When i see the market do its thing, BTC and ETh go then ALts pump etc I am ready for more upside or at the least sideways accumulation phase but when we see a btc eth rally and then TOTAL and esp TOTAL3 dont pump above BTC or and TOTAL below TOTAL3 and BTC and ETH below both of those when compared on the same chart we see downside. this is not money entering the market but people getting out of DeFi ALTs you name it via BTC and ETH. this is time to run not buy last time I saw this in the charts we took a 35 to 40 percent crypto market DROP food for thought. for me and mine we dont want to spread to thin rite now and r ready to exit the market quick fast and in a hurry if needed."
I think this is an important insight, and I certainly don't have a better version of it.
I see the process, and he has an explanation.
Comment:
That's it, technically there's a cross.