Bitcoin dominance continues to rise after breaking out of a rising wedge pattern on the weekly chart. It has now also broken through the 0.786 Fibonacci level.
Next stop is Rectangle 1, where Bitcoin dominance is expected to reach 68% — and most likely, this will mark the top of dominance before it starts to drop, triggering a historic altcoin season.
Scenario 2:
Dominance keeps pushing higher toward Rectangle 2, potentially surpassing 70%. At that point, many altcoins may form new lows, and weak projects could get wiped out.
Fear in the market will hit extreme levels —
but that could signal the beginning of an altseason and the collapse of BTC dominance.
Best regards Ceciliones 🎯
