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The TOTAL3 ( $BTC excluding $ETH total market cap) chart actually shows the general health of the altcoin market. Therefore, the structure we see here directly reflects altcoins' risk appetite.
The macro structure is still in a downtrend. The lower high – lower low series following the September peak hasn't been broken. In other words, the market is still weak in the big picture. Price couldn't break the 765T resistance. If it did, I think it would go maximum to 850T. The 715T-765T range looks like a "reversal or continuation" zone.
In the short term, buyers are testing. However, this doesn't yet provide a trend reversal. If the price breaks above the 0.786 (765B) level and holds, we could see some short-term relief in altcoins. The macro trend is still Bearish.
⚠️ #reklam veya yatırım tavsiyesi değildir. Analiz şahsi görüşümdür. Kesinlik içermez. #Total3