TOTAL CRYPTO MARKET CAP

Depending on where you draw your support line, we are very much still find ourselves in an indecision area.

This screams lower high territory in the coming months unless we show significant strength back above that previous high (yellow) and other 'support line'.

If we flip that then sure we could see a move back to $3.5 Trillion, but we still will face a lot of overhead resistance from previous levels lost (particularly on majors: BTC, ETH, SOL).

Bold take - we do see a relief rally, a complacency bounce, but form a macro lower high (confirming the start of a potential bear trend if we then continue to form a macro lower low).

Either way this will take time to play out - Q1 could easily be a nice rally to form this lower high into a bearish year ahead.

As always, this is my current take based on price action analysis and that can change if I see significant market structure breaks and strength on the charts.