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Welcome to this BTC Dominance update. Bitcoin dominance is inversely proportional to altcoins means when BTC .D increases Alts starts dumping and when BTC .D dumping, Alts starts pumping. BTC .D affects especially BTC pair altcoins.
Bitcoin dominance is breaking down from the rising wedge in the daily time frame and looks bearish. Also, it breaks below the 21D ma which is also a good sign for Altcoins.
The Green dotted line shown in the charts indicates the support level. I'm expecting the Bitcoin dominance to reach the 40 levels again and we might see a good Altcoin season in the 2nd quarter of 2022.
IMO it's best to accumulate some good Altcoins, especially in BTC pair on spot. Soon I'll share some good Altcoins in BTC pair.
What do you think about this? Do you also think that we can see a good Altcoin season in the 2nd quarter of 2022? Share your views In the comment section.
Thank You!
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Also, if you look at the weekly chart then you can clearly see the last three weeks' candle close leaving a long wick to the upside which shows a clear bearish sign.
This is a good idea as long as the USDTD is declining, but if the USDTD is still bullish, my idea is that all markets (Bitcoin and Altcoin) will be declining.