Bitcoin dominance is currently showing signs of weakness and appears to be losing momentum for another upward move.
If we see a breakdown below the 62% level, a sharp decline toward 57% is likely.
During this phase, it may feel like an altcoin season is approaching, but in reality, most altcoins will likely just be retracing previous losses rather than entering true price discovery.
Still, for those who buy the dips, it can present a profitable rally opportunity—especially in short to mid-term cycles.
— Thanks for reading.
If we see a breakdown below the 62% level, a sharp decline toward 57% is likely.
During this phase, it may feel like an altcoin season is approaching, but in reality, most altcoins will likely just be retracing previous losses rather than entering true price discovery.
Still, for those who buy the dips, it can present a profitable rally opportunity—especially in short to mid-term cycles.
— Thanks for reading.
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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.
Related publications
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.