BTC.D
Chart Overview (1D TF – BTC Dominance):
1. Pattern in Play: Rising Wedge (Bearish Bias)
The chart shows a rising wedge pattern forming with:
Support line (PA (D)s) in blue, sloping upwards.
Resistance line (PA (D)r) in red, also sloping up, but less steep.
This pattern typically has a bearish outcome, especially when formed during a downtrend as we see post-June.
Price is nearing the apex of the wedge, meaning a breakout (likely down) could be imminent.
2. Key Horizontal Support and Resistance Levels
Support at 60.27%: Price previously bounced from this level—very significant zone.
Resistance at 61.89%: Acting as a key ceiling; price got rejected here recently.
66.03% (Top Black Line): Major macro resistance and the 2025 peak trendline intersects near that level around October.
3. Trendlines and Long-Term Context
Macro Uptrend Support in red intersects around the 61.89%–62% zone in early October. If dominance holds this zone and bounces upward from the rising wedge, this trendline becomes crucial support.
Previous Uptrend Line (purple) was broken significantly in June, which triggered the sharp drop. BTC dominance lost momentum and is now in recovery/decision zone.
Interpretation:
Short-Term Bias: Neutral to Bearish
As price is within a rising wedge post-downtrend, the probability of breakdown is higher.
Failure to break above 61.89% again and maintain momentum suggests downside towards 60.27% or even 58.60%.
Medium-Term Possibility:
If price breaks down from the wedge, support zones are:
60.27%
Then 58.60%
If price breaks up, it will need to reclaim 61.89% cleanly, then test toward 64%–66%.
Macro Trendline Intersection (~Oct 13): Could be a major decision point aligning with fundamental crypto market catalysts. Dominance could break sharply above or below that time depending on broader crypto cycles.
source https://www.tradingview.com/chart/BTC.D/wQRPbCVO-BTC-D/
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