ℹ️ This is the total market capitalization of cryptocurrencies, excluding major stable coins (USDT, USDC, BUSD, DAI, GUSD, PAX, SUSD, USDK, EURS).
🟢The chart indicates a possible bear trap. However, to be confirmed, the index needs to break through the resistance shown in the blue region above to have an upward confirmation. If that happens, the LS Volatility Index is expected to drop to zero, indicating an approximation to the 21 moving average.
🔴In a bad scenario, the marketcap can reach new lows, possibly reaching the next Fibonacci level. In that case, the LS Volatility Index would rise to 100, indicating an even greater deviation from the 21 average.