BTC FULL SCENARIO
A ***possible scenario*** and I hope I can describe it briefly and clearly for you;
I'll start with **BTC** which has a Bearish Pennant in the works. If these break out downwards, the possible target of this would be that we can close the Gap of July 2021, see chart 1 --> https://www .tradingview.com/x/4jwUnBwD/
The **Total 2** Chart shows us a complex Inverse Cup and Handle on the Daily. This is a chart of the total market capitalization of the top 125 currencies excluding BTC.
Chart 2 --> https://www .tradingview.com/x/SoNcy5jP/
Possibly BTC down, Alts also down. So far so good to anticipate.
Here comes the but ...
The **BTC. D** Chart I put it on the weekly where we can find a nice Falling Wedge. Chart 3 https://www .tradingview.com/x/rmROeM8P/
This in combination with a falling BTC could be a bloodbath for the Alts but I would like to substantiate this further.
The next chart is the log 'Others' chart. Similar to the Total2 but this shows the total market cap of the top 125 coins excl BTC and a number of 2nd top coins such as Eth. Chart 4 https://www .tradingview.com/x/w8YULsuk/
We all know that the markets run on cycles, events that cause prices to rise and fall. I have taken a closer look at these because although it looks similar, the chart is not yet 'nice' correct.
The first yellow circle was the crash in March 2020. Only after this we got to see a nice altseason.
The price/patterns seem to match each other but I still miss the dump of the 2020 crash in the pattern of today.
I don't believe we will fully play out the BTC daily bear flag but I also don't think the bearish pennant on the 1h is enough to connect all these charts so I'm looking further....
What world news can cause so much uncertainty that we can expect another crash like the Covid crash in 2020?
My answer would be 'The day of victory' in Russia which will take place on 9 May. What does Putin come out with is the question that occupies many people ...
Finally, the** CME Futures chart** ... The first gap will be filled imo and the Others chart will be more complete when we also fill the Gap of Dec 2020 (~24K), this could possibly give a wick which is still missing in the 'Others' chart and which we have also seen in 2020 before altseason erupted.
https://www .tradingview.com/x/E5sf800T/
MonicaM
I'll start with **BTC** which has a Bearish Pennant in the works. If these break out downwards, the possible target of this would be that we can close the Gap of July 2021, see chart 1 --> https://www .tradingview.com/x/4jwUnBwD/
The **Total 2** Chart shows us a complex Inverse Cup and Handle on the Daily. This is a chart of the total market capitalization of the top 125 currencies excluding BTC.
Chart 2 --> https://www .tradingview.com/x/SoNcy5jP/
Possibly BTC down, Alts also down. So far so good to anticipate.
Here comes the but ...
The **BTC. D** Chart I put it on the weekly where we can find a nice Falling Wedge. Chart 3 https://www .tradingview.com/x/rmROeM8P/
This in combination with a falling BTC could be a bloodbath for the Alts but I would like to substantiate this further.
The next chart is the log 'Others' chart. Similar to the Total2 but this shows the total market cap of the top 125 coins excl BTC and a number of 2nd top coins such as Eth. Chart 4 https://www .tradingview.com/x/w8YULsuk/
We all know that the markets run on cycles, events that cause prices to rise and fall. I have taken a closer look at these because although it looks similar, the chart is not yet 'nice' correct.
The first yellow circle was the crash in March 2020. Only after this we got to see a nice altseason.
The price/patterns seem to match each other but I still miss the dump of the 2020 crash in the pattern of today.
I don't believe we will fully play out the BTC daily bear flag but I also don't think the bearish pennant on the 1h is enough to connect all these charts so I'm looking further....
What world news can cause so much uncertainty that we can expect another crash like the Covid crash in 2020?
My answer would be 'The day of victory' in Russia which will take place on 9 May. What does Putin come out with is the question that occupies many people ...
Finally, the** CME Futures chart** ... The first gap will be filled imo and the Others chart will be more complete when we also fill the Gap of Dec 2020 (~24K), this could possibly give a wick which is still missing in the 'Others' chart and which we have also seen in 2020 before altseason erupted.
https://www .tradingview.com/x/E5sf800T/
MonicaM
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