Bitcoin Dominance Analysis on the Four-Hour Timeframe Shows Important Technical Signals That May Indicate a Shift in Market Direction Towards Altcoins.

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🔄 Formation of a 'Round Top' Pattern

On the four-hour timeframe chart, Bitcoin dominance is forming a 'Round Top' pattern, which is a reversal pattern indicating a potential decline in dominance. This pattern shows a slowdown in bullish momentum, which may pave the way for further declines in dominance.

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📉 Key Support and Resistance Levels

• Resistance: Around 64%, where price rejection is observed at this level.

• Support: Around 63.5%, a critical level; breaking it may indicate the beginning of 'Altseason'.

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📊 Additional Technical Indicators

• Relative Strength Index (RSI): Shows a decline from overbought levels, reinforcing the likelihood of a bearish reversal.

• MACD Indicator: Shows a bearish crossover, indicating weakening bullish momentum.

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🔍 Future Outlook

If dominance continues to decline and the mentioned support levels are broken, it may indicate a market shift in favor of altcoins. Investors may start reallocating their capital from Bitcoin to altcoins, enhancing the performance of the latter.