For altcoins to follow the rise of BTC, ETH needs to rise
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(BTC.D 1M chart)
In order for altcoins to show an upward trend, BTC dominance must be in a downward trend.
Otherwise, altcoins are likely to fail to follow the movement of BTC and gradually move sideways or show a downward trend.
You should not judge the market movement solely based on the rise or fall of BTC dominance.
At least you should look at it together with the USDT dominance chart.
You can tell to some extent whether the coin market price is rising or falling by looking at whether USDT dominance is falling or rising.
To summarize the above,
- BTC dominance rises: Funds are concentrated toward BTC
- BTC dominance falls: Funds are concentrated toward altcoins
- USDT dominance rises: Coin market is likely to show a downward trend
- USDT dominance falls: Coin market is likely to show an upward trend
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(ETHUSDT 1D chart)
In any case, ETH is the coin with the largest market cap among non-BTC coins.
Therefore, it is likely that BTC dominance will show a downward trend only when ETH starts to rise.
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Currently, ETH is stuck in the box range (2273.58-2706.15).
The M-Signal indicator on the 1M, 1W chart is showing a convergence as it passes near the 2666.70-2706.15 section.
Therefore, if the price rises above the 2666.70-2706.15 section and maintains, ETH is expected to form an upward trend.
Therefore, whether it can break through the 2666.70-2706.15 section upward is the key.
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If the price maintains above 2706.15, it is expected to rise to around 3265.0-3321.30 and determine the trend again.
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Have a good time.
Thank you.
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- Big picture
It is expected that the real uptrend will start after rising above 29K.
The section expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are the points where resistance is likely to be encountered in the future. We need to see if we can break through these points.
We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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