🔸 The chart represents Bitcoin Dominance (BTC.D) on the 4-hour timeframe, showing the percentage of total crypto market capitalization held by Bitcoin. This is crucial for understanding capital flows between Bitcoin and altcoins.
🔹Ascending Channel Structure:
The price has been following an ascending channel with multiple touches on both support and resistance lines (marked by orange arrows).
The dominance tested the upper resistance several times before getting rejected.
The most recent move saw a breakdown from the mid-range level, moving towards the lower support of the channel.
🔹Current Market Outlook:
The price is currently interacting with the lower boundary of the channel (circled area).
A bounce from this level could indicate a continuation of the uptrend within the channel.
However, a break below the channel would signal a shift in market structure, potentially leading to a decline towards 61.40% or lower levels.
🔹Potential Scenarios: ✅Bullish Case: If BTC dominance holds this support level and bounces back, we might see another attempt towards 62.80%-63.00% resistance levels. This would suggest Bitcoin gaining strength over altcoins. ❌Bearish Case: If BTC.D breaks below the support zone, dominance could decline further, allowing altcoins to gain market share, potentially leading to a stronger altcoin season.
🔹Conclusion:
Keep an eye on the support level at 61.50%.
A rejection from the resistance zone or breakdown from the trend channel will determine the next major move.
🚀What’s your strategy? Will Bitcoin continue to dominate, or is it time for altcoins to shine? Let’s discuss in the comments!👇👇
Bitcoin Dominance Analysis (4H) 📊
🔸 The chart represents Bitcoin Dominance (BTC.D) on the 4-hour timeframe, showing the percentage of total crypto market capitalization held by Bitcoin. This is crucial for understanding capital flows between Bitcoin and altcoins.
🔹 Ascending Channel Structure:
The price has been following an ascending channel with multiple touches on both support and resistance lines (marked by orange arrows).
The dominance tested the upper resistance several times before getting rejected.
The most recent move saw a breakdown from the mid-range level, moving towards the lower support of the channel.
🔹 Current Market Outlook:
The price is currently interacting with the lower boundary of the channel (circled area).
A bounce from this level could indicate a continuation of the uptrend within the channel.
However, a break below the channel would signal a shift in market structure, potentially leading to a decline towards 61.40% or lower levels.
🔹 Potential Scenarios:
✅ Bullish Case: If BTC dominance holds this support level and bounces back, we might see another attempt towards 62.80%-63.00% resistance levels. This would suggest Bitcoin gaining strength over altcoins.
❌ Bearish Case: If BTC.D breaks below the support zone, dominance could decline further, allowing altcoins to gain market share, potentially leading to a stronger altcoin season.
🔹 Conclusion:
Keep an eye on the support level at 61.50%.
A rejection from the resistance zone or breakdown from the trend channel will determine the next major move.
🚀 What’s your strategy? Will Bitcoin continue to dominate, or is it time for altcoins to shine? Let’s discuss in the comments! 👇👇
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