We remind you of the picture that is currently present on TOTAL, TOTAL2, TOTAL3, and OTHERS on the daily timeframe. And, by the way, even on the capitalization of meme coins MEME.C.

On all of these charts of the crypto market’s capitalization, there are already two or three marks of a potential high on the daily timeframe. Where there are two—those were yesterday and the day before yesterday, and today the mark is no longer there. That means today’s candle is potentially the first one in a declining structure. Where there are three, it means today’s candle is still within an ascending structure. It’s interesting that there are three marks for TOTAL3 and OTHERS. Which, in the past, were always weaker than the main assets. On the other hand, the memes didn’t disappoint—MEME.C had only one mark of a potential high, and that’s where the correction started. Moreover, the meme market cap came down to the EMA 200 support level. And in a bullish scenario for the coming week (which we don’t expect)—from here it could continue to rise.

Of course, the daily candle still needs to close, but nevertheless. It is precisely because of this picture that, in the first BTC review today, we wrote that the greater activity of altcoins in today’s rise is most likely the final stage in the distribution at the highs of a rebound.

Naturally, we may be wrong—extreme labels are a matter of probability, not fact. But they work well over the distance. You can see it in past cases (although you need to allow for the fact that those cases were still in a bear market).

Special attention should be paid to the fact that for TOTAL, TOTAL2, TOTAL3, and MEME.C the appearance of such labels coincided with the liquidity zone test as resistance. Historically, this kind of signal combination from two of our indicators has worked VERY well for a reversal.

We believe—and still do—that this possible decline is, first of all, a chance to close shorts for those who got stuck. And of course—an opportunity for spot purchases at the start of the bull market that has begun.