TOTAL - Beat the Boss, Now Defend the Floor Crypto Total Market Cap, $CRYPTOCAP:TOTALVIAQUANTThe TOTAL crypto market cap is facing one of the most critical retests of this entire bear market trend. To understand its significance, it helps to go back and review some of my past ideas to see how this market structure developed. First, I highly recommend reviewing this post, since the description links to many of my earlier ideas outlining the structure as it built around the $2.71T level: This is the level I called “crypto’s final boss,” and I noted that once it broke, the bull market was likely to begin. Step One Is Done TOTAL closed above this level on September 18th, causing the breakout, and the market cap is now retesting $2.71T as new support to provide the floor for bulls to push higher. I covered this in more detail in my last idea on TOTAL: If this level holds, it should give market participants the confidence to start flowing money into crypto again, and the market cap should increase by $300 billion to $500 billion before the end of the year. What a Successful Retest Looks Like A successful retest means daily closes keep respecting the $2.71T level, with no more than 2 consecutive closes below it. That gives the bulls the structure to begin the next leg from here. The breakout target from this retest is the 1.618 extension at $3.14T. The RSI In addition, the RSI is forming a falling wedge. Falling wedges are generally bullish patterns that break to the upside. Since this one is on an indicator instead of on price itself, take it with a grain of salt. So far, momentum has been respecting the pattern. If the RSI starts to tick up and trend strength begins to grow from here, it would be very reasonable to see this pattern play out with a momentum breakout to the upside. There are still some warning signs. Bulls are prevailing in market structure for now, but if this level is lost and flips back into resistance, there could be much more of this bear market ahead. I will post updates if the structure changes, but for now watch for this level to create a floor and for an uptrend to begin from here.