Welcome to this quick update everyone,
Altcoin Marketcap is bouncing after printing a higher low.
The index reversed on 18th June 2022 with a low of $430.955 Billion Marketcap.
Currently its trading inside a rising channel and to cpmleyte it needs to print another higher high which gives us our short term target of $573 Billion, almost 15% from current level.

Since this is a rising channel which is generally bearish in nature and often considered as a bearish continuation pattern unless broken to the upside.
This is a very interesting scenario here. BTC has been surprising us since the last few months and ALT MARKCAP breaking to the upside after printing a bearish pattern could be another surprise while the whole crowd is completely bearish .

This is just a theory. The chart along with multiple indicators are showing possibility of a 15% rally in this index which will eventually push the altcoins 20% to even 50%.
So take your trade decisions accordingly.

INVALIDATION:- A CANDLE CLOSE BELOW THE RECENT Higher low of $461 billion will invalidate this chart.

DYOR before taking any trade decisions based on this chart.

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Trade active:
USDC Dominance is retesting after the breakdown. Short-term traders are taking profits.
Rejection will lead to the continuation of the uptrend across the market.
Comment: A bit of resistance around $20k. BTC could retest $19.2k the lower support trendline.
Trade active: The index didn't close $464 billion and bounced right off the support. Still on track

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