I've been watching Bitcoin dominance (BTC.D) for a while now. For those who follow wave trading, a continued rise in BTC.D seems likely. If Ethereum (ETH) loses the **$2,100** support level, it could confirm another bullish impulse in BTC.D, with a target between **73% and 74%**, validating a **regular flat**.
What concerns me about altcoin charts, especially ETH, is the **lack of long-term bullish structure**. A prolonged increase in BTC.D, combined with a BTC drop, could push ETH below **$900**. While this scenario might seem unlikely, it would be **technically clean** from a chartist perspective. It would represent a **wave C** of a **regular flat on the weekly timeframe**, setting up a potential **new all-time high (ATH)** afterward.
This reversal would correlate with a drop in BTC.D to **35% minimum**, which could trigger a strong altcoin rally.
**Summary:**
🔹 **As long as ETH holds $2,100 → No worries**
🔹 **Below $2,100 → High risk of deeper correction**
🔹 **BTC.D towards 73-74% → Regular flat confirmation**
🔹 **BTC.D dropping to 35% → Possible altcoin bull run**
Stay safe out there!
What concerns me about altcoin charts, especially ETH, is the **lack of long-term bullish structure**. A prolonged increase in BTC.D, combined with a BTC drop, could push ETH below **$900**. While this scenario might seem unlikely, it would be **technically clean** from a chartist perspective. It would represent a **wave C** of a **regular flat on the weekly timeframe**, setting up a potential **new all-time high (ATH)** afterward.
This reversal would correlate with a drop in BTC.D to **35% minimum**, which could trigger a strong altcoin rally.
**Summary:**
🔹 **As long as ETH holds $2,100 → No worries**
🔹 **Below $2,100 → High risk of deeper correction**
🔹 **BTC.D towards 73-74% → Regular flat confirmation**
🔹 **BTC.D dropping to 35% → Possible altcoin bull run**
Stay safe out there!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.