Dominance may bounce again, volatility incoming.

We seemingly have a pennant and that's pretty close to its edge, hinting volatility inbound.

Bias is towards a break-up and movement to resistance.
Such case would not be the best scenario for holding altcoins (or worse memecoins).
Especially considering the rising wedge scenario insisting upon the whole Alts market Cap:

So mind the upcoming pennant breakout.
Either way it will bring volatility on the whole crypto market and direction is uncertain.

Even BTC would not necessarily be a safe harbour, as dominance is a double edged sword.
In cases like this flash crashes are pretty frequest, so be vigilant.

Comment:

breakout ongoing, awaiting confirmation on weekly close.

Comment:

THere's a pretty uncommon breakout ongoing on the dominance pennant:

Looks like a fake movement, hinting volatility NOT being over.
I'd expect a strong bounce, maybe after a test of blue support (but that's not a requirement).

Watch out, big swings in prices are likely to be seen.

Comment:

RSI nearing oversold, Stoch RSI closing on ZERO.

I'd say strong bounce near, within few days.

Comment:

This weakness is really impressive:

It somewhat reminds me of BNBBTC last year.
When the bounce will unfold it will bring some huge volatility.

Comment:

Here is the bounce:

Most high cap alts are down 50-60% from their ATH already.
Strangely ETH and BNB are holding well, but that's a matter of time before they both crumble, unless Bitcoin find some decent bounce.