BTC dominance just hit the top of a rising wedge that has been building for over a year. Price is stalling at 65.64 percent, sitting right against long-standing resistance.
Momentum is weakening. Stochastic RSI is at 72 and starting to roll over. RSI is sitting just under 70 and showing early signs of fading.
The structure suggests we are close to a decision. If BTC dominance starts to fall from here, the conditions for an altcoin run are in place.
Key levels to the downside are already mapped. First is 59.97 percent. Then 58.70 percent. After that, 56.88 percent. The 100-week simple moving average is also sitting at 56.51 percent. If dominance breaks below that level, it opens the door for a larger shift in market flow.
Previous retracements in BTC dominance have aligned with strong moves in altcoins. This current setup is technically clean and nearing resolution.
It is not confirmed yet, but the signals are starting to stack. This is a moment worth watching.
Momentum is weakening. Stochastic RSI is at 72 and starting to roll over. RSI is sitting just under 70 and showing early signs of fading.
The structure suggests we are close to a decision. If BTC dominance starts to fall from here, the conditions for an altcoin run are in place.
Key levels to the downside are already mapped. First is 59.97 percent. Then 58.70 percent. After that, 56.88 percent. The 100-week simple moving average is also sitting at 56.51 percent. If dominance breaks below that level, it opens the door for a larger shift in market flow.
Previous retracements in BTC dominance have aligned with strong moves in altcoins. This current setup is technically clean and nearing resolution.
It is not confirmed yet, but the signals are starting to stack. This is a moment worth watching.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.