Bitcoin dominance coming to the 0.5 retracement area at 53.50%
Some scenarios are possible at that level ....
A) If we are in wave 3, the 0.5 retracement coincides with the 3.618 Fibonacci level. Consequently, a correction could be possible in wave 4 before resuming Bitcoin dominance in a final wave 5.
B) The dominance would target the levels between the 0.5 and 0.618 retracement to then correct directly towards an imbalance zone located around 45%.
C) In this case, Bitcoin dominance would be overpriced, reaching levels close to 59% before a correction.
Some scenarios are possible at that level ....
A) If we are in wave 3, the 0.5 retracement coincides with the 3.618 Fibonacci level. Consequently, a correction could be possible in wave 4 before resuming Bitcoin dominance in a final wave 5.
B) The dominance would target the levels between the 0.5 and 0.618 retracement to then correct directly towards an imbalance zone located around 45%.
C) In this case, Bitcoin dominance would be overpriced, reaching levels close to 59% before a correction.