#TOTAL2 : Altcoin market cap retraced to the local trendline support we plotted a few hours back. Continuation is highly likely from here.
Now isn't the time to be scared of the dip; these are opportunistic moments.
My plan: I don't want to buy in aggressively right now. Instead, I'll ladder in partially in case we hit the lower support of $630 billion.
#CryptoNews 📈
TOTAL2
TOTAL2 is the total market capitalization of cryptocurrencies, excluding the total capitalization of BTC.
On the chart, after a long accumulation since May 2022, we see the first glimpses of growth. 2 week green candles.
For further growth, we need to break through the green resistance and gain a foothold above it. After this we will be able to take the...
Hi traders
Altcoins are dimping way more than Bitcoin therefore let's have a look at TOTAL2.
TOTAL2 is in a downtrend but when we zoom out , we can see that in fact , it's just a consolidation inside the channel and long process of building the market structure.
It looks like we can see another crash (20 -25 %) in the altcoins market overall. Some altcoins will...
The crypto market is abuzz with a significant phenomenon - the shrinking of the total market capitalization, excluding Bitcoin (BTC). Contrary to what one might expect, this contraction often precedes a major pump in the world of cryptocurrencies, signifying the potential for exciting price movements. 🌌💥
Unpacking the Market Cap Contraction
Market cap...
Here' s the #altcoin #totalmarketcap incl. #ethereum . This chart shows , altcoins' market cap have come to the top of the channel. Declination here is will doom altcoin bag holders. Clear breaking channel with volume and weekly closings is the invalidation. I showed the support levels on the chart. The war is not good for markets, a friendly reminder. Always use...
The formation we are seeing now which is a potential bottom is similar in my eyes to what was seen before the massive moonshot on total2 post 2016
will there be a follow up run?
I am very bullish right now on TOTAL2 and cryptocurrency.
Hi Folks,
What is TOTAL2?
🔺For our new members:
--Total: It is the data that shows the total value of the entire cryptocurrency market.
--Total2: It is the data that shows the total value of all altcoins (excluding Bitcoin).
🔺Our Total2 data reached a record high of $1.70 trillion during the previous rally, followed by a sell-off wave that led to a...
TOTAL 2 - Crypto Market Cap minus BTC
Three confirmations for bull status
1. Above 100 week SMA (No where close)
2. Complete 149 weeks in Pennant (Dec 2023)
3. Break above Point of Control (POC)
The 2018 - 2020 fractal is overlaid for perspective only
The Point of Control (POC) is the price level at which the greatest number of contracts have been traded...
Still think we'll see one push higher before the continuation of the bear market, however, alts may have a capitulation move first.
If we look at Total2, we can see that $484B never got retested as support. So it would make sense that price action would need to test that level before a continuation higher. If it does get hit and bounces off that level, you can...
Early point in TOTAl2 evolution is showing similarities to the structure that is forming now on TOTAL2
This may be an indicator that market cap is going to go ballistic like it did in early 2016
Lets see what happens.
We are going to have a few weeks of down only and there is nothing you can do about it.
Half of the crypto marketcap is going to vanish in a quick tempo before things start looking bullish.
Buckle up!
TOTAL2
Analysis
TOTAL2 is the total market capitalization of cryptocurrencies, excluding the total capitalization of BTC.
The chart clearly shows the formation of a bullish wedge. This is a technical analysis chart pattern that usually heralds a future uptrend.
📐A bullish wedge forms when the price range narrows and trading volumes decrease.
Usually, the exit...
A Rounded Top structure on TOTAL2
This rounded top will result in an upward movement once completed within the channel
I have plotted an example upward movement with the bars pattern tool in green
Heavy accumulation is evident in these areas
A roll over top followed by strong movement is characteristic of the two
Right now the second one is just breaking out, as did the first in spectacular fashion
Bullish
Altcoin market with a weekly bullish divergence looks bullish overall and we expect the uptrend continuation in the mid-term.
We are not looking for shorts now.
When we get a pullback, it's a buy the dip opportunity.
How deep the pullback can be? The price may retest the key support again but most likely it will create a higher low and confirm its bullishness ....
4Hr chart for the altcoin MarketCap (TOTAL2)
Some important channels to be considered, and a potential rise to the diagonal dotted line
This will be the smaller rally before larger one building
Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer all, thank you, guys.
TOTAL MARKET CAP ANALYSIS UPDATE:-After getting rejected from the strong supply zone, it is now bouncing off the ascending trendline support, where the Ichimoku cloud is...
Total crypto market cap broke bearishly as Bitcoin did.
We expect a short term bounce and getting rejected at the strong resistance.
Final target for bears: 585 - 600 B
After that we expect the real accumulation face and the new bull market to start.
P.S Don´t get overexcited with a short-term bounce
