#TOTAL MARKETcap 1w- flag break will be realized at the bull flag resistance and above 2.3t and above 2.3t target is 3-6t dollars and rally ath target is 7-11t dollars
The image you provided for the chart analysis seems to indicate a symmetrical triangle formation and an uptrend. Here is the detailed analysis:
Chart and Formation
• Formation: There is a symmetrical triangle formation. This formation usually indicates the continuation of the trend. The price is approaching the resistance level of the triangle.
• Trend: The general trend is upward. It signals a bull market, especially on a long-term time frame.
Support and Resistance Levels
• Support Levels:
• 2 Trillion USD (important psychological and technical support)
• 1.75 Trillion USD (lower band of the triangle)
• Resistance Levels:
• 2.5 Trillion USD (upper band of the triangle)
• 3 Trillion USD (important resistance zone, breaking this zone may accelerate the rise)
Target and Prices
• If the triangle formation breaks upwards, the target may be an increase equal to the height of the triangle. In this case:
• Target Price: Between 3.5-4 Trillion USD.
• If there is a downward break, there is a possibility that the price may fall to the level of 1.75 Trillion USD.
Indicators
• Volume: If the increase in volume accompanies the breakout of the formation, the movement will be stronger.
• RSI (Relative Strength Index): Check if it is close to the overbought area. If it has reached the overbought level, a short-term correction may be coming.
• Moving Averages: If the 50 and 200-day moving averages are trending upwards, the bull market will continue.
Strategic
1. Wait for the Breakout: Wait for the price to break the resistance level of the triangle. The breakout should be supported by volume.
2. Post-Breakout Transaction: If there is a daily close above the triangle, you can consider a long position. Place the stop loss level at a point close to the lower band of the triangle.
3. Alternative Scenario: If the price breaks downwards, a drop to support levels can be expected. In this case, a short position can be considered.
Conclusion
• The market structure looks positive in the medium and long term.
• The target after the breakout is 3-3.5 Trillion USD levels. However, do not forget to take a position by managing the risk. Follow the developments and volume movements closely.