TOP5 Alts Trends and Patterns
Following the same idea previously shared (using the Total Market Cap) I'm also keeping a closer eye on this TOP5 (excluding BTC). The broadening wedge isn’t perfect nevertheless the resistance is now being tested and it may be a good idea to see how this will play out.
The Total Market Cap already broke some of the identified resistances but nothing is a straight line. Considering this, we should expect more volatility in the next days/weeks but as far as each resistance turns into a support we will keep pushing higher.
As we can see on this chart we may also break this downtrend soon and if we do, everything can start to be a bit crazier… in that case stay cautious and don’t FOMO in. More opportunities will come to buy cheaper (but maybe not below the lower low, we will see).
The Total Market Cap already broke some of the identified resistances but nothing is a straight line. Considering this, we should expect more volatility in the next days/weeks but as far as each resistance turns into a support we will keep pushing higher.
As we can see on this chart we may also break this downtrend soon and if we do, everything can start to be a bit crazier… in that case stay cautious and don’t FOMO in. More opportunities will come to buy cheaper (but maybe not below the lower low, we will see).
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Almost 10 days ranging below one of the resistances...
Commento:
Some action would be expected and now we potentially have a descending broadening wedge suggesting a breakout...
