Bitcoin Dominance Analysis (4H) 📊

 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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