BTC dominance could be close to a reversal !
Updated
It is my opinion that the 55% level should be the point for a reversal in Bitcoin Dominance.
So we are only 2% away from an important inflection point.
The decision to pause and to slow down interest rate hikes by the Federal Reserve Chair Jerome Powell could have something to do with it. He hinted the central bank might be done raising interest rates for now.
Stocks are reversing and I think we could be for a risk-on period.
Bitoin will thrive but I expect Altcoins will outperform given their deeply discounted level.
Bitcoin is approaching the apex of the bearish rising wedge and, once it will have broken down, could have a final backtest from below the rising resistance (which at the moment is still support).
Once this process will be completed, I expect the Altcoin market to rip.
What do you think about?
Are you also bullish on Altcoins?
Please comment below.
So we are only 2% away from an important inflection point.
The decision to pause and to slow down interest rate hikes by the Federal Reserve Chair Jerome Powell could have something to do with it. He hinted the central bank might be done raising interest rates for now.
Stocks are reversing and I think we could be for a risk-on period.
Bitoin will thrive but I expect Altcoins will outperform given their deeply discounted level.
Bitcoin is approaching the apex of the bearish rising wedge and, once it will have broken down, could have a final backtest from below the rising resistance (which at the moment is still support).
Once this process will be completed, I expect the Altcoin market to rip.
What do you think about?
Are you also bullish on Altcoins?
Please comment below.
Note
We have touched the apex of the rising bearish wedge. Altseason is now at our door.Note
Watching this chart like a hawk ! We approach decision time !!
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