🚨BTC Dominance Update (BTC.D)🚨
BTC Dominance (BTC.D) has reached a critical support zone near 57.3%, which coincides with the long-term trendline and the EMA200 (daily). Here's what I'm seeing:
1️⃣Bounce Potential:
BTC.D has touched a strong support zone. If this holds, we could see a bounce toward 58%-59%, with buyers stepping in to regain momentum.
2️⃣Bearish Breakdown:
A breakdown below 57% would indicate weakness, potentially pushing dominance further down to the 55% range, which is the next major support.
3️⃣Market Impact:
- If BTC.D bounces, Bitcoin could outperform altcoins, as dominance increases.
- If it breaks down, altcoins may rally as capital flows into alts.
My Thoughts:
I will be closely monitoring the 57% level for confirmation.
- A strong bounce above 58% signals dominance recovery.
- A breakdown below 57% could open the door for altseason!