Bitcoin Dominance Is Very Close to a Downtrend – Altcoin Season Is Near
Bitcoin dominance is likely to enter a downtrend soon—because no uptrend lasts forever. This shift may occur within just a few weeks. As you can see in our current Scenario1
, Bitcoin dominance might sweep its previous high and reverse from there. However, if a daily candle closes above the previous high, then we move into Scenario 2.
In Scenario 2, we look toward the 0.786 Fibonacci level, which is known as a strong retracement zone. Whenever price reaches this level, it typically experiences a significant pullback or even starts a new downtrend. This gives us two strong confluences already.
The third major confluence is that on the weekly timeframe, the RSI (Relative Strength Index) is consistently showing bearish divergence—which is often a clear signal that a reversal is near.
Fourth confluence 21 EMA is getting close on 1W Time frame breaking 21 Ema can trigger a downtrend for BTC dominance.
Don't lose hope.
In short, Bitcoin dominance is close to reversing, and you just need to be a little more patient. The altcoin season you’ve been waiting for is coming soon.
If you’ve made it this far—after so much pain, so many difficulties, and countless moments of doubt—then hold on just a little longer. Success is near, and your patience will soon be rewarded.
Comment if you like my work and free premium updates like this and follow me to save yourself from losses and being on the wrong side.
Your comment motivates me
Bitcoin dominance is likely to enter a downtrend soon—because no uptrend lasts forever. This shift may occur within just a few weeks. As you can see in our current Scenario1
, Bitcoin dominance might sweep its previous high and reverse from there. However, if a daily candle closes above the previous high, then we move into Scenario 2.
In Scenario 2, we look toward the 0.786 Fibonacci level, which is known as a strong retracement zone. Whenever price reaches this level, it typically experiences a significant pullback or even starts a new downtrend. This gives us two strong confluences already.
The third major confluence is that on the weekly timeframe, the RSI (Relative Strength Index) is consistently showing bearish divergence—which is often a clear signal that a reversal is near.
Fourth confluence 21 EMA is getting close on 1W Time frame breaking 21 Ema can trigger a downtrend for BTC dominance.
Don't lose hope.
In short, Bitcoin dominance is close to reversing, and you just need to be a little more patient. The altcoin season you’ve been waiting for is coming soon.
If you’ve made it this far—after so much pain, so many difficulties, and countless moments of doubt—then hold on just a little longer. Success is near, and your patience will soon be rewarded.
Comment if you like my work and free premium updates like this and follow me to save yourself from losses and being on the wrong side.
Your comment motivates me
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.
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.