Bitcoin Dominance produced a bullish trend that was more than 1,000 days long. While this was a major development, the action never happened just straight up. There were always fluctuations.
Bitcoin Dominance broke out of a major rising wedge pattern. A pattern that lasted years in the making.
Recently, Bitcoin Dominance produced the highest bearish volume since 2021. A strong chart signal.
The major breakdown following the multiple years long uptrend signals the start of a change of trend. A downtrend. This downtrend is extremely bullish for the altcoins market because BTC.D only goes down when the altcoins are going up and doing so faster than Bitcoin.
What we are seeing now is an inverted correction, a pullback. Simply put, BTC.D already made a strong drop and it needs some relief. This relief is not the end. Bitcoin Dominance can move just a little higher to later resume its newly developing downtrend. Which means that the altcoins market bull market has not reached its end, it is only getting started.
Thank you for reading.
Namaste.
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