Total market cap (excluding BTC)
The total market cap excluding Bitcoin shows a significant breakout from a bull flag or parallel trading channel, followed by a retest. Currently, the market cap has reached a measured move that aligns with both the 1.618 and 1.886 Fibonacci retracement levels. It appears to be consolidating or bouncing between these two Fibonacci levels as it awaits further structural development. This movement can be interpreted as a healthy upward trend in the broader crypto market excluding Bitcoin. Must be noted we have bearish signals forming on longer timeframes on macd and RSI. 👀👀. Nfa 💡👌
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