TOTAL2 - Altcoins Update, filling the gap and continue the trend

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There are several factors who come into play here and why this chart is most definitely going to remain bearish:

  • People may need to secure their last money and cash out their altcoins in these difficult times
  • We took resistance from the breakout triangle (that's my view of the triangle, you may draw it differently)
  • I drew two red curved lines, the thicker line seems more probable to me, based on overall sentiment and other markets
  • All in all, a devaluation of the altcoins is FAIR! Why? Because none of them solves a real world problem at the moment. Will it do so in a few years? Probably some, yes.
  • I don't see a reversal signal for altcoins at the moment.


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Happy Trading!

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