TOTAL2 Weekly TF Analysis (Bounce, Drop, Up)

9 jul 2022

This is an interesting chart.

TOTAL2, the index for the top 125 cryptocurrencies excluding Bitcoin.

TOTAL2 bounced right at EMA300/MA200.
The grey/black lines on the chart.

TOTAL2 managed to close above EMA300 back in March 2020, afterward a strong bullish market followed.

This time around we can see another bounce at this level:

- The RSI is starting to curve upward.
- We can also appreciate a hidden bullish divergence.

The difference between now and March 2020 is big.

After March 2020 the market moved straight up.

After July 2022, we can see a bounce followed by another crash before the phase of sustained long-term growth.
(Bounce, drop then up)

TOTAL Weekly Chart:

Namaste.