quantmaven

Total Crypto Market: Bear Market May Have Begun

Short
CRYPTOCAP:TOTAL   Capitalisation boursière totale Crypto, $
It's a fact that the minimal viable trend on TOTAL has broken on November 18th, as shown with the yellow bubble and the blue line. This similar line has not broken yet on Bitcoin, but it did on Ethereum and a bunch of other altcoins. I'm not trying to scare anyone but to stay grounded and cognizant that there are serious cracks in the rally that begun in July. Based on my analysis, TOTAL made a huge triangle of primary wave 4 that ended in July and TOTAL may have finished a primary wave 5 in November in the shape of an ending diagonal, as shown in purple. We are already in an impulsive wave downward, with a failed retest above the blue line and now going possibly lower. If we go any lower than the orange support, I would confirm my hypothesis that we are indeed in a bear market.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.