CoinChartist

Altcoins To Correct Hard Against Bitcoin According To Dominance

CRYPTOCAP:BTC.D   Market Cap BTC Dominance, %
I suspect altcoins get brutalized during the next correction for whatever reason, but BTC stands stronger - hence what I see in the BTC dominance chart. Alts are about to face a C-wave against BTC. The bottom of wave II in BTC.D happened when Bitcoin broke above its former ATH of $20K the first time in December 2020. In January 2021, it immediately turned back toward altcoins.

But when the correction ends, you want to move some BTC into altcoins because wave 5 in dominance is going to be bonkers.

CoinChartist is run by Tony "The Bull", a level 3 CMT student & technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
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.