Alts Dominate More than Ever or Die
We confirmed an inverted HS on the weekly chart here that took alt dominance to a new ATH, but hasn't yet reached its minimum target (the first yellow arrow up). We've stopped and consolidated right at the mid-point and should soon find out if we're going to continue towards that target.
If we break that target, the next two targets would be the next mid-point and then the top of the 2nd yellow arrow.
Should our HSi fail to stay above the neckline, our min target takes alt dominance down towards non-existence. We could still see a dip below the neckline prior to the move up to min target however, as we did something similar prior to our last big push.
Succeed at reaching new highs and bitcoin dominance will see a significant drop, possibly down into the teens.
If we break that target, the next two targets would be the next mid-point and then the top of the 2nd yellow arrow.
Should our HSi fail to stay above the neckline, our min target takes alt dominance down towards non-existence. We could still see a dip below the neckline prior to the move up to min target however, as we did something similar prior to our last big push.
Succeed at reaching new highs and bitcoin dominance will see a significant drop, possibly down into the teens.
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