Guys Ethereum looks very dangerous to me. Looks like a double top pattern has been formed and the weekly trend line has been broken. What's interesting to me is this chart is kinda like the reversed chart of BTC.D (BTC.D has formed a double bottom pattern. I put a link below).
Crypto total market cap seems to be moving in this channel. It has broken the mid-line resistance, a pullback and now it's going up supported by those trend lines.
Good Reaction to the long term bottom trend line, Two resistances has been broken (static and dynamic) and support from ma50. So everything looks fine! Although we should expect a possible pullback to one of those resistances (It's now forming in daily chart!) before any upside movement.
I'm really curious to see the BTC.D reaction to that trend line. To me it seems like a double bottom, If that's the case, we should expect ATH for Bitcoin!
As you can see here, BTC.D broke that rising wedge and it's still coming down in that channel. I expect this down trend changes when it reaches the 40 zone.
Let me know how you manage your portfolio when a sharp upward move of dominance begins!
It's just a possibility guys! But I see a likelihood between these two movements. If it's the case, we should expect XRP to go lower than this (maybe close to bottom of the wedge), and then a huge upward move! (NFA)
As you can see, the price has broken both 20 weekly MA and another resistance and it's forming a pullback to them. although the price could come down a bit more, if this weekly pullback pattern emerges, I think it's going to have huge bullish momentum!
Personally I think it's too soon to expect an alt season, the reasonable time for money to flow in those coins is after a BTC ATH, and if Bitcoin moves towards the new ATH, BTC.D will only have one way to go!
Looking forward to hear your thoughts.
