Wyckoff Accumulation - Total Marketcap (without Bitcoin)

24 Nov 2022

Real nice example of wyckoff accumulation here on the TOTAL2 chart. This is the total market cap without Bitcoin , though all of these charts have a similar style accumulation range, BTC being the most effected by the FTX event.

We have broken the supply line and regained support above critical levels after the spring event.

I also notice there is a new gap in the ichimoku cloud , that could be the targeted path for the impulsive "Sign of Strength" move, provided we maintain control of the range lows.

I think Litecoin is an early mover, possibly offering incite as to what we could expect next should this play out in this fashion.

Hope every ones doing well, more updates coming soon.

24 Nov 2022

Nota

Bullish divergence showing on the RSI and MFI. After reaching oversold, with an extreme volume signature there too (yellow square in the green oversold zone on the RSI)