TOTAL2 - Little strength but holding for now. Intraday trading

What to do with ALTs? In my recent ROSE analysis I included this TOTAL2 chart, just wanting to show a quick update. Somewhat remarkably, despite a few significant wicks below the trend, this structure of TOTAL2 is still in place, within this descending channel BUT now below many key levels.

Let me be clear - this is structurally very weak, but we can possibly get a small bounce and can speculate on intraday alt trades. If we see TOTAL pierce through the resistance levels (dotted line) and regain support above and test the declining channel obviously we can feel more bullish on alts.

Though to my mind the market is very fragile right now, I am currently ONLY trading ROSE and BTC

But this isn't to say there aren't other opportunities, and I will be speculating on them if I see them

Yorum:

This played out well, impulse to the trend and rebound. Managed to catch +20% on ROSE and saw similar gains across the market.

As expected gains were short and sharp. TOTAL2 now reflecting that many alts are now back in prior trading range.

See how prices develop from here

Yorum:

Little update on this one, above prediction was pretty accurate.

Market now approaching strong support again, will it hold this time? Hoping yes and that we can consolidate sideways