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#BTC Dominance Broke down, Alt Season? Part IIWelcome to this quick Sunday update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures. Dominance broke down and followed our speculated move exactly as shown in my last chart! I expect the dominance to break to the downside, Reasons:- 1. Ascending Wedge Formation. 2. Broke below the Triangle with perfect retest and continuation. 3. Broke and closed below 100D MA which basically shows us the sentiment of the market is shifting towards altcoins 4. I am expecting a bearish crossover of 50D MA and 100D MA in the next week which will eventually fuel the alt season! Many indicators are also revealing signs of weakness in this index. OFFICIALLY WE ARE IN AN ALTSEASON RIGHT NOW! WHAT MATTERS IS IF WE CAN GET SOME SIDEWAYS ACTION FROM BTC THINGS WILL BE MUCH BETTER!! What's your thought on this? Do share your ideas and charts with the community in the comments section. If you have any questions or requests do not hesitate to write them down in the comment section. Do hit the like button if you think this analysis deserves a little appreciation! Thank you #PEACE

CRYPTOCAP:BTC.DShort
by Cryptorphic
2
ALTSEASON ABOUT TO BLOW UP!!?Btc's dominance has been falling recently along with BTC price action and the more we fall lower and lower the more altcoins will start to explode, as we can see today already BTC is down nearly 3.5% and ETH (leader of the alts) is up around 7% or more. Now looking at the path btc dominance is on we are approaching the 45% support level like i drew with my semi accurate path, now im thinking we could see a further bounce here like we are seeing right now but i think a further slide downwards is likely. First of all we are fastly approaching the bottom of the bollinger bands which we have seen many times can easily activate a medium to bigger sized fall in price action but in this case dominance level. we need to get a break below the 45% level which could bring our bollinger band midline resistance below this level which will give us another layer of resistance to hopefully stop dominance from shooting back up. The Wave trend looks very good it seems like we have definitely topped out for now, and we are coming down to the middle of the zone which hopefully we don't see a bounce and just continue heading in the downwards direction. now the RSI is getting somewhat close to the oversold area but we have seen time and time again the RSI staying down there and waiting awhile before recovering, now even more important than that is the fact that we have broken the midline on the RSI and if we can continue to hold below here we will find ourselves in a confirmed downtrend for BTC dominance, which i think is bullish af for altcoins. if we do see a larger crash in BTC dominance its likely that the market will see an initial drop but afterwards altcoins will start to really fly, just like ETH is already doing. Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC DOMINANCE PASSING A CRUCIAL LEVEL!!Bitcoins dominance level is on the fall once again after i thought we would see it happen a bit earlier but none the less this is positive for the market overall! We have actually passed a very crucial level here that could bring us an overall trend reversal, we have crossed the pivot point and if we can secure a daily close here we have a very good chance of turning to a downtrend which in turn could drag down the market initially but afterwards as dominance gets lower and lower altcoins will start to make some explosive moves. Also looking at the bollinger bands we are headed towards the bottom band which whenever that happens we could see a bigger fall if price action starts to ride the bottom band, very important is if we keep trailing downwards getting that midline on the BB below that pivot point will give us an extra layer of resistance so hopefully we can stay below the pivot point keeping the BTC dominance downtrend going! Now the RSI looking pretty bearish which in BTC dominance terms i see as good, we have crossed through the midline at the 50. point and if we can keep pushing downwards and hold below this line we will be looking at a confirmed downtrend, we have been in an uptrend for a months time now and i feel like we got a good chance of reversing that here and getting back to the bull cycle / altseason! not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
Bull Cycle coming back soon!??Bitcoin dominance is coming up on a very important level which is the pivot point where if we cross and breakthrough here we could see a nice reversal to the downside which means that at first BTC and crypto will most likely fall but after that when BTC dominance is lower markets will start to thrive, especially altcoins! The RSI is also coming up quick on the midline, if we can get a break here and a confirmed retest to the downside we could find ourselves in a confirmed downtrend, this would be very positive for btc and altcoins as we get lower and lower dominance alt coins especially will start to really boom. Looking at the bollinger bands we are sitting right on the midline of the bands and its definitely possible we get a bounce here to the upside, but at some point soon i think we are going to get a break below here where we will then get some more downside momentum.
CRYPTOCAP:BTC.DShort
by JacobR905
3
BTC WARNING! POTENTIAL HUGE DROP INCOMING Bitcoins dominance is looking very stubborn after refusing multiple times to break below the 45% level and now rebounding once again back upwards. I think theres a chance we see a pump in BTC dominance and that usually brings a big hit to the actual crypto markets, i think we could see a 'top' around 48% dominance before then falling back down and ultimately then resume our bull cycle. We are in a pretty "dangerous" position right now with our candles starting to ride up the top bollinger band and in most cases when that occurs we then have a big spike upwards. Our pivot point to the downside is around 46%, and by how things are looking we will have to have a top before we come back down to this level. Now looking at the RSI we are well above the midpoint in now a confirmed uptrend but we are going to be soon approaching the overbought area where then i think we could see a fall back downwards. So overall like i was saying yesterday i dont think this pullback is over for BTC and the market and that we could see some more downside in price or upside in dominance before then resuming our bullrun. I dont think we are too far off here i would say maybe the beginning of august or so is the timeline i would guess that we could atleast start to see some metrics and indicators start the process of flipping back bullish! Not financial advice just my opinion!
CRYPTOCAP:BTC.DLong
by JacobR905
2
BTC Dominance about to fall hard!!?Bitcoins dominance has been ranging from 48% to about 40% as of late and i think we are going to start to see a hard fall upcoming in the next week or 2. We are getting some support around 45% dominance and i believe once we see a full break of this level we are going to start to see this fall, we have a unusual gap at 44-43% and i think we could see a fill as thats usually how gaps go, at some point they usually all get filled. Looking at the MACD we are seeeing heavy downside and getting bigger separation in the MA's, so it looks like we are due for more downside over the next few days, after a very prolonged upside. Also something to keep an eye on is that RSI, we are seeing currently a break of the 50. midline and if we can hold underneath we could see ourselves in a confirmed downtrend again for BTC dominance, this would be very positive for the market in general, after the initial drop BTC could see some smaller moves 5-10% most likely and then alt coins will start to explode probably will be posting 20+% inna day like we have seen before these big corrections. Now this isn't guaranteed in any way but it is likely at some point we see BTC dominance crash again, now this could play out in a weeks time or even a months time. Now looking at the bollinger bands we are starting to see some squeezing with the bands compressing the candles, now almost all of the time this indicates that we are due to see a big move in the coming days/weeks. The only problem is it doesn't indicate what direction that'll be and thats why we incorporate other indicators to try and find that direction. This also ties into a big crash because if we do see this gap fill and a break of current support we will end up most likely right on the bottom bollinger band, and this would be huge because almost everytime price action rides the bottom band we see a medium to large size move to the downside. Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
2
Btc Dominance Almost at Peak??As we have seen when BTC dumps gthe dominance level spikes up significantly and we have seen some nice green days like today after pullbacks, my drawing is pretty accurate so far and we could still see a little more upside in dominance to that peak at 48%. As we can see too this level is a pivot point and there is a good chance we reject off both. We are looking for that bearish double top to then hopefully resume this bullrun, there are lots of factors as you may have seen in my previous TA's we need to see RSI confirmed above the 50. point midline, EMA ribons fully twisting back bullish, the death cross reversal ie. 50 day coming back to get ontop of the 200 day. (Keep in mind those examples are for price and for the most past its reversed when talking about dominance). The MACD still has room to run up to get that double top pattern before ultimately crossing bearish, our blue MA is coming downwards on the orange but still has a bit of moving space. One more thing i like to keep in mind these sorta timeframes are so minimal compared to looking at a macro chart say in a couple years, this is just a small blip on the chart so try not to let emotions get to you thats what causes poor decisions! Not financial advice just my opinion!
CRYPTOCAP:BTC.D
by JacobR905
BTC Dominance Double Top??!Bitcoins dominance has been rising again while the market has been taking a hit and i noticed there is a clear pattern that could definitely play out... the double top (bearish), we will have to keep an eye on this as we are pretty close to this 48% level. i think we could keep seeing some sideways and downwards movement while dominance climbs up to 48% then we would imo see a fall with our bullrun resuming. The coppock curve is getting close to the top of the zone with it slightly curling sideways and most of time we don't see sharp pivots and reverses with this indicator it indeed is market waves, what that means is we could still go a little higher before topping out this wave around the 48% BTC dominance level before coming down with the wave. The RSI is slightly curling sideways above the 50. point mark and i feel if we do see some slip in BTC dominance we would most likely see a bounce off of that 50. point then continue up to 48%. The MACD is showing no real signs of slowing down with decent separation between the blue and orange MA's, our histogram has remained bullish for 2 "cycles" now and soon enough i feel like a bearish cross will be overdue! Keep in mind with BTC dominance rising we have been seeing the markets dropping (even BTC) and i think we still will until we get that confirmed downtrend, once dominance starts falling again the ALT's and BTC should be back up and running resuming our bullrun! Not financial advice just my opinion!
CRYPTOCAP:BTC.D
by JacobR905
2
BTC Dominance about to fall??!!Bitcoins dominance since shooting up during our last correction has slowly going sideways and slightly down which has formed this pennant, we have held perfectly inside this pattern and we are now approaching the Apex point or the end, our close tonight for BTC dominance will tell us quite a bit, my thoughts are we are going to break below the end of the pennant and keep our long term downtrend going, if this does play out Bitcoin will likely start to move up maybe not very far but altcoins will really begin to fly. There's a good chance we come back down to the 40% level like we saw early may and then after that i wouldn't be surprised to see 35% BTC dominance. The MACD is right on the verge of fully flipping bearish and could come down pretty hard once we see that confirmation. The histogram is almost right on that midway line which makes me believe some red bars are coming. Also EMA ribbons are pressing down heavy on our candles with lots of bearish momentum, there's lots of separation in the bands so i doubt we see a full reversal anytime soon, remember lower BTC dominance means incredible altcoin gains and most of the time smaller BTC gains. Either way good for the market after struggling recently i expect some green days ahead! NFA just my opinion
CRYPTOCAP:BTC.D
by JacobR905
Altseason will begin again and continue for a short period?!Due to my last analysis about BTC dominance I said Altseason is being started because BTC.D chart is forming a downtrend and it's within wave C of a large correction. It happened nicely and Altcoins grew very well. Now within the wave C, wave 4 which is a corrective one is being completed and therefore Altcoins are collapsing now. But after this wave, wave 5 which is downward will begin and it means Altseason will begin again and continue for a short period. In the future Altcoins should be reviewed again. So be careful!
CRYPTOCAP:BTC.D
by AliBahaari
BTC dominance back to falling??!We saw a huge wick up in BTC dominance yesterday due to the massive correction. We have stayed in the descending channel and didn't even close above it, we seem like we are back on track now with dominance falling again. I figure we could see a bounce off of the 40% level but we may not because it has been weakened over the past 5 days. We almost saw a flip in the ichimoku cloud but now we are back to "normal" with bearish resistance clouds. Aswell the EMA ribbons are are continuing to push down hard on us with a little bit of a reversal from the correction yesterday, we are seeing some more downwards slopping today. The RSI came up hot from the oversold area but now spiking down. Either way BTCs dominance falling lower is very positive for the overall market, BTC could still move a bit but altcoins will heavily outshine BTC. Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
2
HUGE ALTCOIN BOOM COMING??!!BTC dominance holding up at the historical 40% level and having a healthy market correction at the same time, in my eyes this lines up perfect for a huge altcoin run soon enough, a big shakeout even getting retail investors out. I believe we are going to see a huge boom when btc dominance falls below 40%, Our 2018 altseason peak was aprx 35%. Remember that this one could be even bigger due to all the adoption by institutions. The MACD looks very bearish with a bearish flip and big slopping downwards. We have also just come off a bearish slide on the bottom bollinger band, if we see our candle start to ride the bottom again we could see a huge slip below 40%. I think once this correction is over BTC is going to stay very stagnant and not move much at all when altcoins start to fly. NFA just my opinion
CRYPTOCAP:BTC.DShort
by JacobR905
7
Bitcoin Dominance about to gain back!I have gone through many time-frames and it looks like BTC dominance will start to gain back its power over Alts. I have bookmarked the 23 hour chart for confirmation of when. Alts have about 1-2 weeks MAX of any growth against BTC. The chart shows extreme oversold and completely stretched to the downside with the RSI MFI oversold for 6 weeks, while the stochastic RSI has been oversold stagnated below since Feb2021. The candle is way below the Linear Regression and has ridden the Bollinger band down quite alot. My plan is to sell out of Alts gradually and sit on stable coins and cash, because even though BTC dominate will rise, the actually price of Bitcoin is overbought.
CRYPTOCAP:BTC.DLong
by GlobalTrader_
3