Mini Altseason is About to Unfold
It is hard to tell of how deep BTC dominance is about to retrace, but I have identified 2 major support zones based on previous resistance, and fibonnaci retracement confluence.
For now, I doubt will go down to test 43.45% , so I've excluded that line from my analysis.
It is also important to watch for 50 and 100 moving averages, both are likely to play out as a support before BTC dominance will attempt to break beyond 200 weekly moving average.
Best of luck!
I found a fuller chart over at CoinTrader.
What is interesting is that it states that we have passed well beyond 200 weekly moving average couple of weeks ago and it looks like its lagging about 2 percent when compared to TradingView chart. I have highligted potential upcoming resistances with horizontal red lines before alts will have a go.
I would love to see and in depth analysis of BTC dominance from an elliottician's perspective. The true question in mind is "how likely are we to go beyond weekly 200MA resistance level right now before we eventually retrace?"