BTC Dominance Breaks Structure – Eyes on 60.5% to 62.9% Targets
Downtrend Reversal:
➡️ The macro bearish channel from May–September has been invalidated with a clean breakout.
➡️ Structure shift confirmed: LL → HL → HH
➡️ Volume is increasing on breakout attempts, indicating growing strength in BTC over alts.
Fibonacci Target Zones:
➡️ Nearest target sits at the 0.382 retracement (60.55%)
➡️ Extension levels suggest confluence zones at:
• 61.60% (0.382 ext)
• 62.65%–62.93% (0.618–0.65 Fib cluster)
• 63.32% (0.236 from macro swing)
Support Levels:
➡️ Strong support below at 58.95%–58.58%, marking the previous breakout zone
➡️ HL confirmed above 57.17%, locking in the new bullish structure
📌 What This Means:
A rising BTC.D typically signals capital rotation back into BTC, reducing relative altcoin strength. If dominance reaches the 62%+ range, it may coincide with BTC breaking out while alts underperform.
source https://www.tradingview.com/chart/BTC.D/KVaGFasr-BTC-Dominance-Breaks-Structure-Eyes-on-60-5-to-62-9-Targets/
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