Total Market Cap battling 0.702 FIB

It is clear that TMC has been battling the TMC ever since it tested the 50D SMA back in Sep 7th. A retest for the 50D SMA seems in the cards at 0.618 FIB level in the coming days, could be very much this weekend. That would be a 7% drop to 2 trillion for the total market cap. This would translate to the Alts averaging a 15% drop, while BTC drops 7% to 10% which would be the bottom of the daily BB and the weekly 21 EMA.

Assuming the 0.618 holds then the market should move north from there.

Trade closed: target reached:

As expected, the market reacted and the overdue correction met the FIB levels as BTC touched the 21W EMA along the way.