Altcoin Dominance Bouncing From 0.382 Fib Retracement

Bouncing from 0.382 fib retracement, altcoin dominance has broken above the 200 Week MA (29.65%), RSI now left oversold conditions and MACD about to bull cross. "ALT.D" (1-BTC.D+99) needs to close the weekly above the 200 MA to remain bullish, but otherwise the risk/reward is there for a trade to the 0.5 fib retracement (49.95%) and resistance level. This would be a trade on the monthly scale on the left with the price bouncing back from the 20 MA to the 50 Month MA.

Related altcoin dominance/market analysis...

Altcoin Dominance Retesting 200 Week MA. Bounce to 40% Incoming?

Altcoins Bouncing From 200 Week MA after TD Sequential 9

Comment:

Watch out for the 50&200 Week MA bear cross...

Comment:

Ignore last comment, wrong chart!

Closing above the 200 Week MA for the third consecutive week = bullish.
Not much else to say, long with altcoins.

Comment:

With the death cross (between the 50 & 200 Week MA) appearing on small cap altcoin dominance this week, confirming a long-term bear trend, it's worth tightening any stop losses on any small cap trades due to the possibility of a continued sell of. While the bear cross is a lagging indicator to confirm long-term trends, and the "price" could rally towards it (has often happens in Bitcoin) it's also bearish by default, similar to the flattening of the CMF.

Comment:

IGNORE ABOVE! Wrong chart analysis, don't panic ;-)
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The total altcoin market dominance looks healthier which each week that passes, continuing to find support above the 200 Week MA (30.4%) and currently moving above the 21 Week MA at 31.8%. RSI is now leaving the bearish territory (40) while the CMF has nearly made it out the red, continuing to show bullish divergence.