Still think we'll see one push higher before the continuation of the bear market, however, alts may have a capitulation move first.
If we look at Total2, we can see that $484B never got retested as support. So it would make sense that price action would need to test that level before a continuation higher. If it does get hit and bounces off that level, you can see the chart would form an inverse head and shoulders pattern.
I could see a large bounce higher happening after to tag one of the higher two resistances (I lean towards the $800B one).
Let's see if this plays out in the coming months. It looks like this would all need to play out before August.
If we look at Total2, we can see that $484B never got retested as support. So it would make sense that price action would need to test that level before a continuation higher. If it does get hit and bounces off that level, you can see the chart would form an inverse head and shoulders pattern.
I could see a large bounce higher happening after to tag one of the higher two resistances (I lean towards the $800B one).
Let's see if this plays out in the coming months. It looks like this would all need to play out before August.
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