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The overall trend in the #crypto market value seems to continue downward in the big picture.
On the left, there's a low peak; the formation in the middle is actually a head-shoulders-like pattern, with a breakdown after the right shoulder and accelerated decline. In other words, the formation target has been reached. So, what happens now?
Around 2.29T, which is the current region, is a horizontal resistance zone. The main target is 2.05T (0.786 fib), and 2.58T (1 level) is a strong resistance. If we can't reach that, the structure will continue bearish.
After the decline, we are in a weak consolidation zone. Reactions remain low volume. This range is not a bottom; it most likely looks like a continuation pattern.
When #TOTAL drops, we understand that there is no inflow of money into the system, and even money is leaving the market.
In this case, Altcoins will drop the MOST as usual because they are the highest risk assets and the easiest to write off.
Bitcoin dominance increases, and money moves into cash.
If the 2.29T level remains below persistently, at least a 5% total decrease will occur, and Bitcoin will share in this decline.
#This is not an advertisement or investment advice.