TOTAL2 - Altcoins Update, filling the gap and continue the trend
There are several factors who come into play here and why this chart is most definitely going to remain bearish:
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- 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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.