#BTC Dominance Broke down, Alt Season? Part II

١٥ أغسطس ٢٠٢١

Welcome to this quick Sunday update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.

Dominance broke down and followed our speculated move exactly as shown in my last chart!
I expect the dominance to break to the downside, Reasons:-

1. Ascending Wedge Formation.
2. Broke below the Triangle with perfect retest and continuation.
3. Broke and closed below 100D MA which basically shows us the sentiment of the market is shifting towards altcoins
4. I am expecting a bearish crossover of 50D MA and 100D MA in the next week which will eventually fuel the alt season!

Many indicators are also revealing signs of weakness in this index.
OFFICIALLY WE ARE IN AN ALTSEASON RIGHT NOW!
WHAT MATTERS IS IF WE CAN GET SOME SIDEWAYS ACTION FROM BTC THINGS WILL BE MUCH BETTER!!

What's your thought on this?
Do share your ideas and charts with the community in the comments section.
If you have any questions or requests do not hesitate to write them down in the comment section.

Do hit the like button if you think this analysis deserves a little appreciation!

Thank you




#PEACE