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jackrabbitrage

Did BTC dominance finally find support?

Market Cap BTC Dominance, % (CRYPTOCAP:BTC.D)  
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CRYPTOCAP:BTC.D   Market Cap BTC Dominance, %
Trend Analysis Harmonic Patterns
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trendanalysis harmonicpatterns

Capital inflows have long been tempted to alts after BTC.D formed a picture-perfect double top.

Whether the Harmonic patterns, Anti-Bat and Black Swan helped or not, the chart barely rebounded, if weak, on its trendline.
Green and Gray boxes show theoretical support and resistance zones, which might be proving that this metric plots as a textbook case.

If the dominance surely confirmed its bottom and begins to recover, it might mean the end of the altcoin season (but depending also on the crypto total market cap).
But, there's no insurance that the support would hold. Anyway, the dominance behavior would more or less affect this "ETH-led" crypto market.

Idea Berkaitan

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ETH daily: Strong but many resistances above
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