#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.