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dekotrd
Apr 12, 2021 7:35 AM

Bitcoin dominance is in danger? 

Market Cap BTC Dominance, %CRYPTOCAP

Description

CRYPTOCAP:BTC.D
Many people are still talking about upcoming alt-season, however I believe alt-season is here for three month! Many coins made ATH even to BTC pairs.
Looking at weekly chart makes me think that we are actually getting close the end of the party. I specified previous alt-seasons in the blue blocks, together with RSI state in yellow blocks.
As you can see we still have room on weekly RSI to deep, dominance also broke down the uptrend and went under EMAs.
Despite this situation I would be careful with alts. Most likely we see another step up for BTC and keep in mind that as soon as it happens, alts will crash and dominance will sky rocket.
Of course overall we got a chance for super cycle and continuation of the alt-season with the slow growth of BTC, but I would not count on that.

Let me know what you think in the comments. Good luck!
Comments
muradoglu1
Thanks for the great analysis. I agree that alt season already started in january but hopefully it lasts till june, what do you think about this?
dekotrd
@muradoglu1, in my opinion is possible, if BTC will not make a strong move
Need to watch the dominance and it's behavior
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