Altcoin cup and handle updateAltcoins have corrected 30% overall from the most recent swing high to swing low. I believe the reversal is in as the handle continues to print. With BTC strength we will see a bit more downside for most alts, then I believe a major upswing is to come. We should hit 1 trillion by the fall.
My focuses:
-RNDR
-NEAR
-AKT
-Equal
-Super
TOTAL3 trade ideas
Is a Technical Breakout Unfolding? 💥🚀 Following Bitcoin and Ethereum's market moves, which I've discussed in previous updates, it's time to turn our attention to Altcoins. Historically, Altcoins tend to flourish once Bitcoin has had its rally. This dynamic allows Bitcoin holders to potentially reap profits and diversify into Altcoins. The retail market's focus has notably shifted towards Altcoins, and the institutional interest seems to be following, albeit at a cautious pace, still primarily focused on acquiring Bitcoin and, to a lesser extent, Ethereum.
Looking at the chart from January 30, 2023, titled "Altcoin Season Beckons: A Technical Breakout Unfolds," we see a potential technical breakout that might propel the Altcoin market towards a whopping $725 billion, and possibly further to $938 billion. The chart illustrates significant price movements and strategic entries, marking promising investment junctures.
As of now, my favored picks within the Altcoin space lean heavily towards those involved with artificial intelligence technologies. While meme coins offer some speculative opportunities, my approach focuses on more fundamentally driven assets.
For those keen on exploring the Altcoin market, now might be an auspicious time to consider your options. The market shows potential for significant growth, offering an exciting opportunity for those looking to diversify their crypto portfolio.
Remember, always do your due diligence and consider your financial goals and risk tolerance when making investment decisions.
ps. someone sent me this yesterday:
When i saw it I felt like it could be a good day to look for new Long entries
One Love,
The FXPROFESSOR 💙
TOTAL 3 market capital to 10xTotal 3 is the market capital of all crypto excluding Bitcoin and Ethereum.
On the above 5-day chart Total 3 has corrected 70% or thereabouts. Now is a excellent time to be long in your favourite alt-token despite the bearish sentiment. Why?
1) You know why.
2) Price action and RSI resistance breakouts.
3) Support and resistance. Look left. Price action has now double bottomed on past resistance (orange arrows).
4) Point no. 3 is on the golden ratio as measured from the previous market bottom to the last market top. What an excellent signal.
5) The falling wedge and flagpole (large orange arrow) forecasts the market cycle top. Between 10-12x.
6) The bullish divergence. 8 oscillators are printing positive divergence with price action. The settings used are chosen to coincide with crypto market cycles.
Is it possible TOTAL 3 continues to see corrections? Sure.
Is it probable? No.
Ww
Type: Trade
Risk: Depends on the market cap of your token.
Timeframe: Now, don’t hang around.
Return: 10x
Momentum still looking bullish. Mapped upside targetMomentum still looking bullish.
We are approaching the resistance area near $683B which is a confluence resistance area with the 50 day moving average.
RSI trending upwards.
Stochastic RSI bullish crossover
Bollinger bands squeezing indicating a big imminent move and most likely upwards
Correction for alts is probably overFor the past two months, CRYPTOCAP:TOTAL3 has been undergoing a correction. This correction was anticipated for many altcoins and, importantly, is very healthy for the market.
Upon closer analysis of the chart, it becomes evident that this correction does not signify a trend reversal.
Total3 halted its descent around the 600T zone, which does not represent very robust support.
I anticipate a fresh upward movement from many altcoins, potentially propelling Total3 to reach the 850T mark.
TOTAL 3We're potentially on the cusp of the ultimate bull run in history. The total cryptocurrency market cap excluding BTC and ETH (known as Total 3) is showing promising signs as it retests and consolidates around the 644 billion dollar zone for about 63 days. If we observe an upward bounce from this point, it could mark the onset of the greatest bull run ever witnessed.
last dip before huge alt seasonPeople have been capitulating on alts and strong hands have bought them up on spot. Leverage got wiped out.
We see TOTAL3 hitting the weekly ma20 with a hidden bullish divergence on rsi, and retesting the rsi neckline. There will not be many of these opportunities to load up spot on a weekly bull market correction.
I think this is the last dip before a huge alt season can begin that will melt faces.
analysis of TOTAL3 (altcoins index)Update #analysis of TOTAL3 (altcoins index) time 4H
In the previous analysis, we expected this index to suffer and we see that the price has reacted to the specified resistance level and is suffering.
It is expected that this index will enter an upward trend from the specified price floor, and you must keep an eye on the evolutions.
And it seems that now is the best time to buy and hold at least for a while