Hello Community,

welcome to this new analysis about the TOTAL CRYPTOCURRENCY MARKET CAP from a weekly timeframe perspective. I have spotted the underlying patterns that drive the cryptocurrency market. Some patterns keep repeating on and on again. The pattern forming for the cryptocurrency total market cap again could be particularly worthwhile for upcoming trading conditions.

When looking at my chart, we can watch how TOTAL moves in this prolonged trend direction. The most pivotal source of the trend is this historical uptrend line, in which TOTAL has major support. The next important support is the 300-EMA marked in green. The previous fractal bottom was confirmed after the price broke below the 300-EMA, reversed, and formed the substantial uptrend.

Currently, TOTAL has completed several parts of the fractal already. The major descending triangle formation is the most important part of this whole dynamic. Next comes the inverse head-shoulder formation, of which TOTAL has already completed the left shoulder and is now about to complete the head. With a bounce within the historical uptrend line, this inverse head-shoulder formation is likely to be completed with a breakout above the neckline.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP