The Ascending channel structure has not been broken yet. The midline of the channel acted as resistance last week, but yesterday dominance was able to break the midline resistance and now is hovering above the midline. This increase the chance that we will see dominance at the top of the channel again. One thing to notice is that on the 4H, the chart has printed a bearish candle. That could send the D back to the midline for a retest and if it breaks below the midline the D may go down more. For now if btc was to form a quick reversal the dominance would most likely shoot up until alts catch up. If btc goes lower than this, the alts will bleed more and the dominance will still go up.
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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.