HEAD AND SHOULDERS: CRYPTO TOTAL MARKET CAP EXCLUDE BTC (update)

CRYPTO TOTAL MARKET CAP, EXCLUDING BTC, formed a Head and Shoulders pattern. We saw a rebound after de breakdown confirmation right on the direction of the neckline. The neckline acted as a strong resistence (as expected). Now CRYPTO TOTAL MARKET CAP EXCLUDE BTC is going down.

Some respected analysts have pointed out that the next bull market must separate the wheat from tares (i.e., separate good tokens from the bad ones). This is what this indicator suggests at the moment.

However, the crypto market as a whole should feel the effects. Including BTC.