BTC 💎 A Bullish Argument For a 40k Retracement. ALTS GO 🚀🚀?!

Looking at the current daily chart it looks like we could conceivably overwrite the previous bullish butterfly and get out a lovely bullish shark instead.

This would need us to retrace to 40k, but the good news is if we retrace to 40k, our next likely stop is 72k.

What does this mean for Alt Coins?

Well we're in an interesting spot. If we check out BTC Dominance below we can see that it appears to be in a complete and utter free fall.


The next "support" (take this term with a grain of salt as it's essentially an index chart) is 20% lower from the current dominance level. This is an insane amount of money considering the current market caps of most alt coins.

And most interesting, if we go back to our total 2 chart, which is market cap minus BTC... Well it looks like we've already broken out of the downtrend:


The last time this happened the market cap increase by 91% from the bottom point. Again an insane amount of money for alts.

Combine these factors with the amounts of breakouts currently happening on alt charts and we have all the potential for a BTC rejection propelling alts into the stratosphere.

If so, I'll meet you on the moon 🤘