$BTC DOMINANCE 1W 🕒 ANALYTICS
For beginner traders, here’s a quick breakdown of how this metric affects the market:
👉 When #BTC ’s price rises while its dominance falls, we usually see a strong rally in most #altcoins . Conversely, if BTC drops while dominance rises, alts tend to plunge hard.
On the weekly chart ▶️, we have a descending upper boundary formed by the July 2017 and December 2020 peaks — never broken to date. Meanwhile, the solid support level at 39.12% (April 2018) holds strong below.
Elliott Wave analysis suggests the 5-wave growth phase is ✔️complete, meaning a correction is next. If BTC continues rising amid this, alts could enjoy a major rally🪙. Ideally, we’d see a trend reversal, but there’s no clear confirmation yet.
👀 Let’s keep watching, friends!
Buy and Trade $BTC
