🚀 BTC Dominance Analysis – Important Levels to Watch! 🔥

🚀 BTC Dominance Analysis – Important Levels to Watch! 🔥

🔹 Chart Overview:
This is a 2-hour BTC Dominance chart, and we can see that BTC dominance is currently trading inside an ascending channel. The price has been respecting both the upper and lower trendlines consistently.

🔹 Key Observations:
✅ Support & Resistance Levels:

• BTC dominance is currently testing the lower trendline of the channel (around 61.73%).

• The upper resistance zone is around 62.80%, which has been tested multiple times.

• The lower support zone is around 61.50% – 61.60%, which has provided strong support in the past.

✅ Bullish Scenario:

• If BTC dominance bounces from this support, we could see another move towards the upper trendline, targeting 62.50% – 62.80%.

• Breaking above 62.80% would indicate strong BTC dominance, possibly leading to further correction in altcoins.

✅ Bearish Scenario:

• If BTC dominance breaks below 61.50%, we could see a drop to 61.00% or even lower, which may result in a potential altcoin rally.

• A breakdown from this ascending channel would indicate a shift in market dynamics, giving altcoins more strength.

🔹 Conclusion & Trading Strategy:
📌 Watch for a strong bounce from the lower trendline for a possible long position on BTC dominance.
📌 If BTC dominance drops below the channel, altcoins could start gaining momentum.
📌 Keep an eye on BTC price action as well, since BTC dominance movements directly impact the altcoin market.