BTC Bear Market Indicators (What to Watch)
As BTC Dominance approaches all-time lows and shills are screaming "alt season", it is important to keep our eyes elsewhere. Yes, it is true that alts pump as dominance falls but there is a bigger picture playing out that is much more important. This is the possible start of a bear market because last time we saw dominance this low, BTC dumped over 60% in less than a month and almost 80% on the year. https://www.tradingview.com/x/6NuG2McC/ The alt market cap took a bigger hit during the same time, dropping over 90% https://www.tradingview.com/x/pln9Gb7D/ A weekly close above 40% on the dominance chart would be a good sign for the bulls, but things aren't looking the best. If the bearish scenario plays out, it would also coincide with the massive head and shoulders pattern I posted here: https://www.tradingview.com/chart/BTCUSD/lKDGGrtS-BTC-Scary-Scenario-Last-chance-for-the-bulls/ The clock is ticking for BTC with these two bearish scenarios threatening to repeat, but I'm still buying the dip.
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