CRYPTOCAP:BTC.D   Market Cap BTC Dominance, % (CALCULATED BY TRADINGVIEW)
The Bitcoin dominance compared to the Altcoins is looking weak right now.
It tried three times to break through the trend channel the last couple days, but
could not manage to clearly stay outside of it (H4 timeframe). The last 4h candle closed inside
the channel. If the daily candle closes inside the channel today, we can expect a downside
of the BTC dominance, which would lead to a recovering phase for the altcoins from the
bearish days.

We might see the BTC dominance going down to around 60%.
If that happens we even could see a little altcoin rally.

Let´s hope, that the altseason begins :p
When it will be right, I don't know
What it will be like, I don't know
We live in hope of deliverance from the darkness that surrounds us
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The trading view chart is poor, coinsignals is better. Assuming the long term wave count of the overall BTC.D decline is a 5,3,5 and using a the 0.618fib of the whole prior bull market for the likely target gives 69.2% as the likely top. Which gives on my chart presently at 64.5% one more leg up. As kinda fits with an apparent BTC.D bear pennant completion and BTC hits long term rising support at around the $8600 mark. Still alts season doesn't look far away.
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