$BTC

Analysis of #Bitcoin Dominance

Bitcoin dominance has broken from an ascending wedge pattern with high trading volume, indicating potential bearish momentum. Currently, it is rebounding from the 100-day moving average, which provides support, while the 50-day moving average acts as a resistance level.

A breakout above the 50-day moving average may lead to further upside, while a breakdown below the 100-day moving average will confirm a continuation of the decline. Watch price action closely, as these levels will determine the next trend.

Remember that Bitcoin dominance often moves inversely to the market cap of altcoins - continued weakness here may bolster the performance of altcoins.