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TOTAL MARKET CAP UPDATE
As you can see in the chart or absorb in the chart here TOTAK MARKET CAP is making this falling wedge pattern as same it marked in 2018 and dropped 43% and invalided this pattern that was the last drop of the bull market.
Technically as we all know that this is a bullish pattern if this pattern breaks up out and test successfully then we can accept a bounce technically but if it Breaks down 700 billion support then it may drop almost 40%. Yes same as it was done in 2018.
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Comment
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In the daily time frame, the Total market cap breaks down this Descending triangle pattern currently it looks like it’s retesting this pattern if it retests successfully then Technically it can drop up to 450B.
We have two important support 700B and 550b.
To invalidate this pattern Bulls need to close a daily candle back inside this descending triangle.