I draw a chart weeks ago about TOTAL2 - TOTAL MARKET CAP EXCLUDE BTC, $ (CALCULATED BY TRADINGVIEW). I saw a small Head and Shoulders that developed as described in the book Technical Analysis of Stock Trends 9th ed. (by Edwards, Magee and Bassetti).
Now, It seems we are seeing another Head and Shoulders (and the small Head and Shoulders is the Head) - a pattern described in the same book (look for "Multiple Head and Shoulders Patterns" on chapter 7 of the book). Let's see what happens.
One important advise from the book: "a Multiple Head-and-Shoulders Pattern is more apt to be over- than understimated".
I personally believe that at some point we will see a cleanup in the crypto market, with the end of some non-competitive tokens. Maybe the market is already doing this debugging.
The time has come? Is it an apocalypse crypto? Is it the beginning of a new era for crypto?
Now, It seems we are seeing another Head and Shoulders (and the small Head and Shoulders is the Head) - a pattern described in the same book (look for "Multiple Head and Shoulders Patterns" on chapter 7 of the book). Let's see what happens.
One important advise from the book: "a Multiple Head-and-Shoulders Pattern is more apt to be over- than understimated".
I personally believe that at some point we will see a cleanup in the crypto market, with the end of some non-competitive tokens. Maybe the market is already doing this debugging.
The time has come? Is it an apocalypse crypto? Is it the beginning of a new era for crypto?
