BTC DOMINANCE - Alts season is coming!!
Bitcoin still on track of two major resistances at the dominance chart, showing points of possible money flowing out of Bitcoin into Altcoins. The possible end of this outflow could be reached at the uptrend of this chart highlighted in red on vertical.
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Have nice trades!
Hardly anyone cares for small projects besides, let's say, the top 15 coins/tokens. You can clearly see that by their ridiculously low trading volumes.
In my opinion, Bitcoin dominance really comes from it's usage as a store of value and long term investment asset; that's exactly what people are looking for right now because of a fully blown up stock market, housing market, wars and hyperinflations all around the world.
You saw in the parabolic rise of BTC from 3k to 14k that TA didn't play too much of a role since BTC broke all resistance levels within minutes. Almost no technical analyst, me included, had such a rise on their radars because it was against a lot of rules of TA.
But of course this is only my humble opinion and the way I see this market :) stay safe