Is it Altseason? BTC Dominance hits several technical indicators
Where the yellow down arrow is currently BTC dominance is hitting resistance shown by the lime green horizontal line at 73.03
The purple trendline shows where BTC dominance acts as support and now resistance
The small blue trendline shows where BTC dominance broke out above this resistance line
The red show where BTC dominance changed from altseason to usdt and acts as a major resistance line
The orange horizontal line is where BTC dominance should end up at the end of this bull cycle
The light blue horizontal line shows the next level of resistance should BTC dominance breakout above the current resistance levels
On the LMACD we can see the importance of the pink horizontal line at 0.03 and should BTC dominance go above this level altseason will be on hold yet again
On the we can se the importance of the yellow line at 77
On the below charts for a few major altcoins we can see where they match up with what this chart is showing us in that BTC dominance should drop against this and flow into the alts as they are all setting up for parabolic moves. If BTC dominance goes above this major resistance shown on the chart, altseason will remain on ice, but that seems unlikely in my opinion.
LTC and ETH already making positive moves.
ETC chart: about to break above all and MA indicators. $9. 40 major resistance if break through. LMACD shows and could go parabolic if gets over 0
BCH chart: broke above 0.618 fib level. Broke above all EMA's and MA's. LMACD is now over 0
ADA chart: broke above yellow line major level. Broke above all EMA's and MA's. LMACD is now over 0
Happy trading legends!
Donations via TradingView coins will enable me to post more of my analysis with more information. Thanks in advance if you are a legend who donates.
Follow me on Youtube and Twitter for more updates more frequently.