Two Ideal Scenarios for AltsThe weekly uptrend was lost, it is showing some signs of exhaustion, and may correct soon in a way that could be beneficial to alts.
Scenario # 1 - Bitcoin Dom gets stopped for the 3rd time at 54.1%, and moves down to make a final / higher low above 48.7 (still a lower low from its recent weekly low). Then it turns up hard to break through 54.1 on its 4th attempt after showing strength above 48.7-50%.
- this situation means a more immediate run for alts, but it won't last nearly as long and btc will quickly dominate again.
Scenario # 2 - we see a temporary break above 54.1 that goes near the center of weekly resistance and the bottom of the white diagonal trendline drawn on the chart. It gets rejected here and then follows the same path as Scenario 1 from there.
- alts would have to wait a bit longer to get a slightly longer and stronger run vs. btc before it dominates again.
Note that it is also possible that dominance turning down just means a correction for the market, instead.
