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Please note: The video above is set to start at 8 minutes, featuring an in-depth technical analysis of Total 3 Market Cap (TOTAL3).
The total 3 market cap, excluding Bitcoin and Ethereum, shows a 40% retracement, indicating a heavier bleed in altcoins. This chart suggests that altcoins might have reached a bottom, presenting a potential buying opportunity. The retracement aligns with historical patterns where altcoins experience significant drops followed by recoveries. This scenario provides a chance to accumulate undervalued altcoins.
Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
The chart also highlights a 61.8% retracement level, a key Fibonacci level often associated with strong support and reversal points. This level's alignment with the current market conditions suggests that altcoins might be poised for a turnaround. Traders should consider accumulating positions in altcoins at these levels, anticipating a potential recovery as the market stabilises.
Educational breakdown
The total 3 market cap chart is crucial for understanding the broader altcoin market's health. Key Fibonacci levels provide strong support and potential reversal points. By focusing on these levels, traders can identify optimal entry points for accumulating undervalued assets. This approach underscores the importance of technical analysis and historical patterns in making strategic investment decisions in the altcoin market.
Intro: Dogecoin (DOGE) is a cryptocurrency that started as a joke but quickly gained a large following due to its friendly and approachable nature. Now it is the King of memes. Inspired by the popular Doge meme, Dogecoin is known for its strong community and widespread use in tipping and charitable donations.
How to Buy: Via Centralized Exchange (CEX):
- Choose a CEX like Binance, Coinbase, or Kraken.
- Create and verify your account.
- Deposit funds.
- Navigate to the DOGE trading section and complete your purchase.
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