Current Situation:
The total cryptocurrency market capitalization (TOTAL) has rallied over 11% this week, moving from $2.35 trillion to $2.6 trillion, where it faces resistance.
Potential Scenarios:
Consolidation and Retest:
Scenario: The market could consolidate at $2.6 trillion before attempting to test $2.60 - $2.75 trillion again.
Implication: Breaking this range could lead to a test of the 2021 all-time high at $3 trillion.
Rejection and Pullback:
Scenario: Rejection at current resistance might pull the market back to the $2.4 trillion support level.
Strategic Considerations:
Entry Strategy: Consider long positions if there's a breakout above $2.75 trillion with strong volume.
Exit Strategy: Take partial profits at current resistance and re-enter if consolidation shows strength.
Stop-Loss: Set stop-loss orders to manage risk, especially below $2.4 trillion support.
Conclusion:
The TOTAL rally is positive, but be prepared for potential consolidation or pullback. Monitor key levels to make informed trading decisions. #CryptoMarket #TOTAL #TechnicalAnalysis
The total cryptocurrency market capitalization (TOTAL) has rallied over 11% this week, moving from $2.35 trillion to $2.6 trillion, where it faces resistance.
Potential Scenarios:
Consolidation and Retest:
Scenario: The market could consolidate at $2.6 trillion before attempting to test $2.60 - $2.75 trillion again.
Implication: Breaking this range could lead to a test of the 2021 all-time high at $3 trillion.
Rejection and Pullback:
Scenario: Rejection at current resistance might pull the market back to the $2.4 trillion support level.
Strategic Considerations:
Entry Strategy: Consider long positions if there's a breakout above $2.75 trillion with strong volume.
Exit Strategy: Take partial profits at current resistance and re-enter if consolidation shows strength.
Stop-Loss: Set stop-loss orders to manage risk, especially below $2.4 trillion support.
Conclusion:
The TOTAL rally is positive, but be prepared for potential consolidation or pullback. Monitor key levels to make informed trading decisions. #CryptoMarket #TOTAL #TechnicalAnalysis
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.