Your analysis highlights a promising setup for the total cryptocurrency market cap. A **descending broadening wedge** pattern typically indicates a potential reversal, especially when found at the bottom of a trend. If confirmed with a breakout, it suggests that the market might shift from bearish to bullish momentum.
### Key factors to watch:
- **Ichimoku Cloud Support**: The Ichimoku Cloud's support beneath price action adds confidence, as it's traditionally a strong indicator of upcoming bullish moves when price bounces off its lower boundary.
- **Breakout Confirmation**: A confirmed breakout above the upper trendline of the wedge could be the signal for a broader market reversal. Pay attention to volume during this breakoutâhigher volume would reinforce the strength of the move.
- **Potential Targets**: After the breakout, targets could be previous resistance levels or Fibonacci retracement levels. Keep an eye on key psychological levels for the total market cap.
