The main chart is the Daily BTC PA and the BTC DOMINANCE ( BTC.D ) super imposed below, for the same period.
When BTC.D Drops and BTC PA remains stable, we see ALTS increase in Value, Mostly.
On the main chart, you can see that in Nov 2024, Till Dec, we had a mini ALT seasons and we are having another now
But will this last ?
If we look in more detail at the BTC.D chart below, we can get some ideas
https://www.tradingview.com/x/4TEJkVZs/
Will it Last ? I do not think so.
We are on two areas of strong support right now.
The 618 Fib extension has provided support already and PA bounced. In fact, at time of writing, Many ALTS are in the RED on an hour chart. We need to watch and see where we go in the next 7 hours
Should this Fib extension Fail, Just below is a longer term line of support.
SO, I would head towards a High rate of Caution with the ALTS right now.
Does this mean that Bitcon will push higher ?
The potential is there, YES
High Level of Caution for th eALTS right now
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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.