$TOTAL Altcoin market cap really not looking as bad here but at a key level.
The recent flush lower definitely killed the lower timeframe momentum, but looking where this came from earlier this month, we're still on track to make a decent higher low around this area.
The real test will be whether this can break back above last week's highs which would also need $BTC to trade back above $65K again.
In my opinion, that would signal a larger timeframe reversal and likely an attempt for BTC to leave the range or at the very least test 70K+ again.
For now we're in the middle of it all, a 10% candle lower and everything looks awful. A 10% candle higher and things are looking great. It can really be that simple sometimes and that's why it's best to wait for more clarity.
The recent flush lower definitely killed the lower timeframe momentum, but looking where this came from earlier this month, we're still on track to make a decent higher low around this area.
The real test will be whether this can break back above last week's highs which would also need $BTC to trade back above $65K again.
In my opinion, that would signal a larger timeframe reversal and likely an attempt for BTC to leave the range or at the very least test 70K+ again.
For now we're in the middle of it all, a 10% candle lower and everything looks awful. A 10% candle higher and things are looking great. It can really be that simple sometimes and that's why it's best to wait for more clarity.
