TOTAL MARKET CAP (Y20.P5.E31).Daily. Bearish Divergence

Hi All,

As we are making gains with BTC and some ALTs, we can see that the top trend line is acting as resistance and hence the wick on today's candle.

We can also see the daily with some bearish divergence coming into play.
What this indicates is that we are approaching a potential pullback however where and when is difficult to know as divergences play out, then after the fact, we acknowledge.

In my previous post, I did state that 2017 market cap was larger than was we have of current and that most likely we could have a rejection on the weekly resistance level or all time high.
I still believe this has merit and this divergence adds another component to the business case.

What do you think? Does it have merit?

When I look at my BTC top prediction, this also has confluence to the potential wave 3 macro target.


I will leave it here and place some relevant charts for you to think about.



Cheers,
S.SAri.

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Commentaire:

weekly RSI

monthly RSI

Commentaire:

As I stated, the weekly or double top will initiate a pullback. Question is, is this short lived or will it be a deep pullback.