Alcoin season is about to start?

Since the beginning of this year 2023, BTC has been outperforming the rest of crypto market (in average). Last week, we saw that BTC has really accelerated and left alcoins behind.

Is this trend continue? When will be the turn of alcoins?

Today, we can see that some big cap alcoins like XRP, ADA (and even ETH) has started to pump and outperformed BTC. Is it a sign?

When looking at the BTC dominance index, its value is at the high range of a parallel channel. If this index is rejected and the uptrend still contines, one can expect that alcoin will start to rally and catch up with BTC quite soon.

If the tradition does not change, it's time to keep an eye on ETH and large cap alcoins (like BNB, XRP, ADA, MATIC, DOGE, SOL).

What do you think?

Comment:

BTC dropped as low as -4% today. In my opinion, It would go sideway in the range $26600-$28900 the next days. May be it'll be time for Alcoins?

Comment:

BTC is still moving in the range $26600-$28900 as expected in the comment of one week ago.
For BTC dominance chart, it's still soon but will we have an evening star candle at weekly close? If yes, alcoins will rise fast as long as BTC holds the current support $26600 or BTC goes up from here.

Comment:

Alcoins are rising today, leaded by ETH.

If we have a Shooting Star candle on BTC Dom as in July 2021, we can expect an Alcoins' boom the next weeks.

Comment:

Finally, we had a hanging man candle. BTC dom will decline and Altcoin season is coming. ETH & large cap cryptos are the next choices to invest, in my opinion. Certainly, new trendy crypto will also be winners.

Comment:

My view for alcoin season has changed. It's likely that BTC will continue to dominate: break-out and retest of the channel are going to be finished.