TOTAL MARKET CAPITAL UPDATE: BREAKOUT!
Welcome members to this update on Total Market Cap in a daily timeframe.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
The Total Market Cap (Excluding BTC) has broken out of the long-time resistance trendline. Ever since the total2 got rejected from 1.7 trillion after making its all-time-high, it has been continuously rejected. It is after 137 days that the total2 has broken out of the trendline. This was a long awaited and an important level to break. We have seen how the altcoins has rallied in the last 3-4 days and if the total2 rallies towards 1.5 trillion then altcoins will go to the moon.
I am expecting a retracement soon and then another leg up. The only area we need to keep an eye on is the 1.1 trillion support level. If this level is broken then we may see some heavy dumps in the market.
That's all I have to say for now. If you like this idea then do like and follow. Also, let me know what you think about this chart.
Thank you.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
The Total Market Cap (Excluding BTC) has broken out of the long-time resistance trendline. Ever since the total2 got rejected from 1.7 trillion after making its all-time-high, it has been continuously rejected. It is after 137 days that the total2 has broken out of the trendline. This was a long awaited and an important level to break. We have seen how the altcoins has rallied in the last 3-4 days and if the total2 rallies towards 1.5 trillion then altcoins will go to the moon.
I am expecting a retracement soon and then another leg up. The only area we need to keep an eye on is the 1.1 trillion support level. If this level is broken then we may see some heavy dumps in the market.
That's all I have to say for now. If you like this idea then do like and follow. Also, let me know what you think about this chart.
Thank you.
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