Starting to feel like a bit of a broken record when signaling that I am watching for short positions in the near future, however, I still feel strongly that the market baskets and BTC want to begin a pullback, it’s just a matter of spotting that signal when it arises. This is what leads me to sharing ideas similar to this one where I am simply watching for the bearish flip to occur here because that would be the signal. If we don’t get the bearish flip here, then I’ll watch and wait at the next sign we are given.
The chart attached here is TOTAL3, or the market cap of all cryptos excluding ETH and BTC. If you zoom out on this chart to a daily timeframe, this chart is sitting in a bearish wedge and this sets the major bearish idea up. Additionally, to the left of the chart you can see a massive price imbalance (fair value gap, etc.) that is getting filled with this bearish wedge. But what I am watching in this chart is a gain of support that we then lose and flip bearish. And I am only focusing on that because if it happens deep within the bearish wedge and deep within the imbalance zone, it has a significantly higher chance of being impactful.
Because this is the TOTAL basket for altcoins, now is an excellent time to find some of those altcoins that are similar to this chart so if/when this bearish flip happens you will be set up with short positions to enter.
Starting to feel like a bit of a broken record when signaling that I am watching for short positions in the near future, however, I still feel strongly that the market baskets and BTC want to begin a pullback, it’s just a matter of spotting that signal when it arises. This is what leads me to sharing ideas similar to this one where I am simply watching for the bearish flip to occur here because that would be the signal. If we don’t get the bearish flip here, then I’ll watch and wait at the next sign we are given.
The chart attached here is TOTAL3, or the market cap of all cryptos excluding ETH and BTC. If you zoom out on this chart to a daily timeframe, this chart is sitting in a bearish wedge and this sets the major bearish idea up. Additionally, to the left of the chart you can see a massive price imbalance (fair value gap, etc.) that is getting filled with this bearish wedge. But what I am watching in this chart is a gain of support that we then lose and flip bearish. And I am only focusing on that because if it happens deep within the bearish wedge and deep within the imbalance zone, it has a significantly higher chance of being impactful.
Because this is the TOTAL basket for altcoins, now is an excellent time to find some of those altcoins that are similar to this chart so if/when this bearish flip happens you will be set up with short positions to enter.