TOTAL - Bull run starts October?
To get more clues on what BTC is doing, I analyzed the TOTAL (Total Crypto Market Cap).
I use Elliott, trendlines, and fibonacci. I keep getting the same results on many analysis, of the bull run starting in October.
I label my waves 1 A W and 2 B and Y. Why is that? There is a real possibility, that crypto does a huge pump for months, then another bear market hits. So I keep these corrective labels to remind me. This idea lines up with the fact that the US Treasury yield curves inverted 11 months ago. If you are not aware, in past history, recessions hit anywhere from immediate to 17 months after a yield curve inversion.
I use Elliott, trendlines, and fibonacci. I keep getting the same results on many analysis, of the bull run starting in October.
I label my waves 1 A W and 2 B and Y. Why is that? There is a real possibility, that crypto does a huge pump for months, then another bear market hits. So I keep these corrective labels to remind me. This idea lines up with the fact that the US Treasury yield curves inverted 11 months ago. If you are not aware, in past history, recessions hit anywhere from immediate to 17 months after a yield curve inversion.
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On the daily in log scale, I show how multi-year trendlines and support/resistance lines seem to have importance.
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On the weekly in arithmetic, I show how a support trendline may show us that we are near the bottom.
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TOTAL count update. So, it looks like TOTAL is completing a flat with a flat-c impulse down. Very likely, it will end wave 5 in the golden zone (0.618-0.65 fib). Then the bull market starts.