#BlackRock Applies for Digital Shares


The chart of Crypto Total Market Cap Excluding BTC (TOTAL2) shows the following structure:

1. Formation:

A clearly defined descending wedge that broke upward at the end of April.

This is a bullish pattern, and a breakout upwards indicates a possible trend reversal.

2. Ichimoku Cloud:

The price has exited above the cloud, but is currently testing its upper boundary.

If the price holds above the cloud or finds support within, it will be a bullish signal.

A downward breakout back into the cloud may indicate a false breakout.

3. Market volume:

Current level: around 1.02T, local resistance in the range of 1.08–1.1T (above the cloud).

Support: area ~965B, then ~900B in case of a pullback.

4. Current structure:

The wedge breakout is confirmed, but there is currently a retest of the breakout zone and the cloud.

If the price holds above and bounces back, a rise in the entire altcoin segment is possible.

Output:

Bullish signal with confirmed breakout, but the market is currently undergoing an important retest. Confirmation of holding above 1.02T and a breakout above the cloud (>1.08T) will pave the way for a stronger alt season.
BTC-1,88%
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SuperNyahvip
· 2025-05-01 07:10
Yesterday, Bitcoin Spot ETF outflows hit a new high.
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