BTC dominance long

Market Cap BTC Dominance, % CRYPTOCAP:BTC.D

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TL;DR

- Pullback from 59.60 to 61.05% (bad for our bags)
- Trend continuation from 61.05% to 58.1% (Good for our bags)
- Major trendline breaks below 58.1%, means Altseason.

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Well.

Here how i think it will play out.

Now we have a bullish divergence on 4h tf plus trend change also on 4h tf.

This means one of two things, either a full reversal to the upside (which is unlikely) or just a pullback which iam more leaning towards.

So our first conclusion is that we will go through a pullback phase.

Then comes where we are pulling back to, from where. what i think is that (if we think as we are dealing with a traditional asset class based on the chart), then we have some resting liq at 59.60%, below that there is an FVG, a bullish one. So iam thinking we will visit the 59.60 level, then move upwards to 61.05%. And from there we will be revisiting a bullish trendline on a bigger tf at 58.1%.

If that trendline broke. Then we are officially in an altseason.

source https://www.tradingview.com/chart/BTC.D/P5LVfy3l-BTC-dominance-long/