BTC Dominance | Winter is "Almost" Coming
Market Cap BTC Dominance, % CRYPTOCAP:BTC.D
Hello traders,
Its been a minute since I last checked my wallet, cause I don't love seeing red. Who loves to?
BTC dominance on the 2W timeframe has been in an impulsive bullish uptrend. Structure-wise, it has printed multiple BOS + CHoCH, which tells me that capital are still rotating into Bitcoin, not alts.
What make me believe this further, is that BTC is forming a short-term bullish structure that might target $100-105k price range
Only after BTC dominance reaches 70% area, we might start expecting shift. Distribution on BTC.D and the conditions for an ALT season.
Historically, BTC dominance has struggled to make HH that is why I'm expecting a drop from the previous Bearish OB
TL;DR: BTC dominance shall drop from the range of the bearish OB 70% which shall align with its projected bull run to $100k-105k price range. After that, we can call for ALT season.
Good Luck!
Please drop a like and share your thoughts traders.
source https://www.tradingview.com/chart/BTC.D/a1JH4YAC-BTC-Dominance-Winter-is-Almost-Coming/
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