Descending Triangle vs Falling Wedge

暗号資産の時価総額 (ドル) (CRYPTOCAP:TOTAL)

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CRYPTOCAP:TOTAL 暗号資産の時価総額 (ドル)

trendanalysis chartpattern crypto bitcoin ethereum

Crypto total chart has 2 contradicting structures. Descending triangles are bearish and often leads to crashes.

The falling wedge correlates with Bitcoin's falling wedge that is just broken out. Ethereum on the other hand has a descending triangle.

We'll see the market's decision soon.

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I think this is really important for crypto in 2023-2024. If we make a correction to the last markdown, that means bear market is probably far from over. If we run the lows and come back, that's the bottom.

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BTC.D is also confusing right now.

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BTC.D pumps mostly because money is flowing from stables to BTC. New money is not interested enough.

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We go for the green one if it can break 200d ema.

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Important day. Good luck to both parties.

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Yeah it's a breakout.

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I still wanna see it above 200d ema but I can't deny it's bullish atm.

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I mean we have to accept the current trend is up at this point. But SPX is on a major resistance. US markets did go up lately but they don't really show strength like crypto. VIX is on a major uptrend test. DXY looks weak but it is to close fib. retracement level. I think we need to see this week first to be sure.

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Or let's say it this way. Looks like very important downtrends are broken. But we don't have a convincing uptrend yet. We have a blow off.

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Interesting interactions with 200d ema.

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Look at the bearish perfection on NASDAQ. This thing should go down.

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NASDAQ is still trying. Crypto TOTAL is above 200d EMA. Make it or break it. Breaking the 200d EMA is cool but making it a support is what you want as a bull. You want a trend. What we have is up only.

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NASDAQ ltf. I don't like V type recoveries. Pull-back and continuation is needed for me to like it.

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And of course the famous SPX trend. They definitely changed the sentiment from a week ago. We'll see.

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Imagine the pain haha. Everyone waiting to long it when it breaks up. It would go to hell if this happens. People forget how deep is the COVID low.

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NASDAQ bullish. Good reason for crypto to climb more.

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Just like Burry says. People are roasting even him on twitter lmao. And better economists warning against recession. Idk this smells very bad. "Number go up fast and aggressive" narrative vs very real problems.

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ETH starting to look like the previous top. Number 1 rule of a bear market. Never ignore a sign of weakness.

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But US market gives good signals. I think we have room upside. 1.2-1.4 very likely compared to 10 days ago.

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Imagine people going crazy with something like this. iH&S + Ascending triangle. And it actually fails.. Why not?

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Sell off on TOTAL2 is promising for bears.

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I've never understood the bullish argument about ETH chart. One of the most important reasons I'm a stubborn bear about crypto for a long time. If it's really bullish I still believe it has to build something bullish on the macro chart. That means dump mid-term.

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A very important indicator I forgot to look here. 200 wma.