Total Market Cap Excluding Top 10

The chart illustrates the Crypto Total Market Cap Excluding Top 10 (CRYPTOCAP) on a weekly timeframe, highlighting key patterns and potential market behavior:

Bullish Deliberation Block:

Two bullish deliberation blocks are marked (indicated by blue arrows), where the price consolidated after a strong upward move, showing indecision in sustaining bullish momentum.
These blocks often precede significant market reversals at higher levels.
Historical Pattern Suggesting Weakness:

Previous instances of similar bullish deliberation zones were followed by sharp declines, signaling that the current structure may repeat a historical bearish pattern.
The weakening buy interest aligns with a possible exhaustion of bullish momentum.
Third Wave Bearish Starting Point:

The chart suggests the potential onset of a 3rd bearish wave in a larger corrective structure.
This aligns with the marked decline zone, indicating a strategic sell point for traders anticipating a downward move.