For the last 200 days a descending triangle is consolidating and a breakout is quite imminent (we entered in the last 25% of this formation).
Breaking this formation on the downside should trigger another Alts season, breaking on the upside may trigger further lower lows for alts and probably also BTC.
BTC Dominance descending triangle is breaking out but we still need confirmations, the sooner better.
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We keep testing this break with some volatility but probably not for much longer. We most likely have a decision in the next week or two. Btw, in my opinion, BTC Dominance is just slowly confirming the break.
We also have many breakouts just “around the corner”, everything seems ready for a nice Bull Run (pushing BTC between 4.7k/5.4k) followed by a stronger pullback (maybe to 3.5k again) because many will jump in late and panic sell again. Always the same making the same mistake over and over but who knows… let’s keep watching this resistances…
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We keep slowly moving down but at least this steady move is confirming our Alts Season. However don’t be surprised if we have an acceleration eventually in sync with a BTC breakout from the Major Resistance.
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We can also confirm this Alts Season if we use the Market Cap Others Dominance. In this chart we can see how well some alts performed (not all obviously).
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We should consider some adjustments or a false breakout. I will update this in the next weeks but for now I can’t say much without more price action.
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BTC Dominance pump is now stronger than I would initially guess but this descending triangle and the descending channel make sense...
This is the last chance for this trend (adjusted) to hold. If we don't see a strong reaction from alts in the next days (not weeks, few days) then we need to find a new downtrend.
XNS01
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Others Market Dominance reacted strongly and it needs to hold the trend if we want to see some kind of continuation. If BTC Market Dominance dominance keeps pushing higher this one will also breakdown.
XNS01
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@cryptok-eu, btw, this one completely broke and the weird trend isn't valid anymore. I will share a new trend when I find one..