BTC Dominance and ALT Season

Hello Traders,

My thesis on BTC Dominance,

Looking at the chart we see BTC dominance is currently at yearly highs and showing no stopping. An area to look out for is the .50 Fibonacci retracement where the dominance with some probability could top out and reverse. In historic price action, this often leads to an ALT coin season.
The current ALT coin market compared to BTC shows a large number alts hitting major long term supports where there is a high degree of possibility that they will bounce of and regain some dominance whilst BTC remains in a side way range.

What are you thoughts? ALT Season soon? Please leave a like and comment