#TOTAL MARKETCAP on Support! BULLISH Rally ahead?

7 มี.ค. 2022

Welcome to this extensive analysis of Total Marketcap.
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Explained in the most simplified manner.
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Before I start explaining the chart I want you to take a note.
TA is not about predictions and prophecy! It's a simple technique (that most traders simply make more complex), to understand the moves of an operator of a particular asset and take your trade decisions accordingly. It helps to understand both bearish and bullish scenarios in a chart.
I am not here to predict anything, I speak about the facts I see in the chart, with no bias. You can have another opinion for the same chart.
So it completely depends on how you see it.
Remember my charts always have an expected move as per indicators and patterns along with some logic.
And I also have an invalidation point in all my charts with proper reasoning.
I could be wrong. That's how TA is done IMO! Do not expect much from anyone, no one really knows everything about the market.
If someone tells you he/she knows, either he's a God or a Liar.
Learning TA will help you to become a better trader. Not a fortune teller.


Now, let’s get to the chart.
The total mCap is currently sitting right o the support. Any break and close below this channel will result in a beginning of a more bearish rally across the market. A strong bounce will lead to a green quarter ending.
This is certainly a good spot to get into some spot positions with similar charts and bullish indications.
The risk is very low compared to the reward.
I will post some Altcoin setups soon.
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CONCLUSION:-Total mcap is on support and needs some volume and bullish catalyst.

Invalidation:- Daily close below $1.46 trillion mcap

Note- DYOR before taking any trades, I am not a financial adviser.


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#PEACE

7 มี.ค. 2022

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*Typo in the chart:- The channel is with blue trendlines and not black.