This recent correction is exactly what we need for the next legs of this market cycle! How to Identify Crypto Market Cycles with Three Charts
The principal of how these charts correlate will take your trading to the next level!!
The Chart below is the BTC.D on the Daily Timescale. This is an idea of what we could see in the near future. Bitcoin could once again take the spotlight and start to outperform Altcoins in the short to mid term future and potentially begin to for a Head and Shoulders Pattern. What this would mean is Altcoins could stay somewhat stagnant if Bitcoin decides to gain some traction in the coming weeks.
The Chart below is the TOTAL2 Chart on the Daily Timescale. Notice how the Price action is currently attempting a bounce off of the previous All Time High at $490B. So what are you worried about? Sometimes we need a little confirmation of the inevitable fact that there is a concrete floor being built where the ceiling once was.
The Chart Below is the TOTAL Chart on the Daily Timescale. This Chart blows my mind every time I look at it. Yesterdays' "Drop" looks just like any other little blip on the chart. It would be completely bullish and still within the parabola line if we traveled sideways with bearish under tones for another month or two. Do we want this to happen? Well maybe, consider how much we can all learn about this Market Cycle if we only had another month to study!! Think about it!!