DO OR DIE Situation- Will TOTAL2 Hold?Right Now the market is highly reacting to all the FUDs from China and Elon.
Daily RSI are at the Top, Situation Not Good for Trading.
Better to be in 70% USD and only 30% for Active Trading(scalp).
Flag can be Bullish or Bearish.
If Total Holds for the weekend and breaks trend upwards, and when Retest is done, Nice Position to open Long
If Total Do not Hold for the weekend and breaks trend downwards, Exit the market & wait for BTC to be stable at next support level.
TOTAL2 trade ideas
Crypto Total Market Cap Exclude BTC (TOTAL2) | Bulls IN BearsI am looking at TOTAL2, the index for the total cryptocurrency market capitalization excluding Bitcoin ... Calculated by Trading View...
Here we have some signals to look at that can reveal potential scenarios for the future of the altcoins market capitalization... Let's take a look:
First let's notice the "support trendline" which is now in play. If this trendline is broken we can expect TOTAL2 to move lower and test the 0.786 Fib. retracement support level from the last bullish wave. Staying above this trendline can lead to a bounce up and test of EMA10 (79) followed by EMA50 (88).
We also have a falling wedge pattern and a neutral RSI.
Our main scenarios are drawn on the chart.
We believe TOTAL2 will grow in the coming months with potentially only one last strong drop left.
What's your take on where this index is headed?
Share with us in the comments section below.
Namaste.