TOTAL - Quick Update

Wait 5 sec.

TOTAL - Quick UpdateCrypto Total Market Cap, $CRYPTOCAP:TOTALVIAQUANTThis is an update to my last idea: The 4H bearish divergence did play out and the total crypto market cap dropped into the green box labeled "LTF Support Zone" as outlined. Now looking at the 8H chart, the entire crypto market cap has printed a "Railroad Tracks" pattern following BTC's dip to a low of around $78,800. So far this is a solid reversal signal and could keep the market either within the current range or give it the fuel to push slightly higher, with BTC likely leading the way toward $84,000. However, the double top is still nothing to discount and should be taken seriously. Bears truly take back control of this trend if bulls cannot defend the LTF Support Zone. For now price can remain bullish as long as bulls hold inside or above the green box. The signal that bears are taking over would be a key candle close below that green box. If that occurs, the old zone of support will most likely flip from buying pressure into new selling pressure and that is what will start the move down toward the 0.618 around the $2.4 Trillion level.