Hello guys. This is the most important Dominance chart that you need to. understand if you're invested in alts.
Halving is just after few days and people are holding
BTC max in their portfolio.
Coming to this Chart
Dominance is at the most critical Zone now,
Break above this TRENDLINE would lead to 10 to 20% more dump in BTC and will eventually get rejected from the upper trendline Resistance. Dropping from that resistance which is around 68.10 we could see a mini Alts season i.e., a 100 to 300% Rise in Potential Alts which are trading currently at the bottom with strong fundamentals in the end of second quarter.
Yes It's true read it again!
Now if it follows S1 (Scenario 1) in which it fails to break above the current critical Red Dot resistance point where two line of Resistances coincide with each other we can see it dropping to the downside to 62 level.
Caution for Alts: If dominance follows S2 and breaks through the resistance of the giant falling wedge channel. There will be massacre in the Alt MARKET.
If you ask me my personal call would be a drop from here but still need to be vigilant.
So we wait for few days to see how the resistance breaks to the upside or downside.
I would personally hold maximum portion of my portfolio in BTC.
#Thanks again for reading.
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