Key Support Holding Strong
Over the past six weeks, the 60% level on the BTC.D chart has acted as strong support, preventing further downside.
Bitcoin dominance now appears to be climbing, with a potential move toward the 66%-72% resistance zone in the coming weeks.
Potential Market Implications
A rise in BTC.D typically signals weakness in the altcoin market, as capital shifts away from riskier assets into Bitcoin.
If BTC.D reaches and rejects the 66%-72% resistance, it could trigger an altcoin recovery, similar to what happened in January 2021, when a rejection in this zone led to a massive altcoin rally.
Key Levels to Watch
Support: 60% (holding for 6 weeks)
Resistance: 66%-72% (historical rejection zone)
A break above 72% could suggest continued Bitcoin dominance, delaying any significant altcoin resurgence.
Conversely, a rejection at 66%-72% could mark the beginning of an altcoin season, as liquidity rotates back into alternative assets.
Conclusion
Short-term: BTC.D appears bullish, with altcoins under pressure as dominance climbs.
Mid-to-long term: The 66%-72% resistance zone will be pivotal—a rejection could reignite the altcoin market, while a breakout would strengthen Bitcoin’s dominance even further.
Over the past six weeks, the 60% level on the BTC.D chart has acted as strong support, preventing further downside.
Bitcoin dominance now appears to be climbing, with a potential move toward the 66%-72% resistance zone in the coming weeks.
Potential Market Implications
A rise in BTC.D typically signals weakness in the altcoin market, as capital shifts away from riskier assets into Bitcoin.
If BTC.D reaches and rejects the 66%-72% resistance, it could trigger an altcoin recovery, similar to what happened in January 2021, when a rejection in this zone led to a massive altcoin rally.
Key Levels to Watch
Support: 60% (holding for 6 weeks)
Resistance: 66%-72% (historical rejection zone)
A break above 72% could suggest continued Bitcoin dominance, delaying any significant altcoin resurgence.
Conversely, a rejection at 66%-72% could mark the beginning of an altcoin season, as liquidity rotates back into alternative assets.
Conclusion
Short-term: BTC.D appears bullish, with altcoins under pressure as dominance climbs.
Mid-to-long term: The 66%-72% resistance zone will be pivotal—a rejection could reignite the altcoin market, while a breakout would strengthen Bitcoin’s dominance even further.
Related publications
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.
Related publications
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.