Total Market Caps Still in Uptrend
The top panel you will observe the Total MC for cryptos. It's currently in a symmetrical triangle.
The bottom panel is all Altcoins, which is in an .
I'm expecting a break one way or the other in about 36-48 hours from now. The probable direction is up for many reasons.
1. We are still in an uptrend.
2. Bitcoin is still above $30K and the Alts are consolidating after decent moves up.
3. Institutional interest is still there; evidenced by Marathon's big buy.
4. The dollar is currently still weak and can't get above the 50D .
5. Lots of thinking.
I think we go up to the targets with the green dotted lines, followed by a decent correction back down to test present levels, followed by the Altseason everyone's been waiting for. This move will likely take the market cap for Alts to $720-$750B
It goes without saying that a breakdown from these levels will likely end our present uptrend, but that possibility is minimal imo.
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.
Could be about to witness a massive cup and handle taking us north of $725B over the coming 4-6 weeks.