C Dominance Update 🚨🔥
BTC Dominance (BTC.D) is currently trading near 65.08%, close to the previous swing high of 65.38%. This keeps the daily structure bullish, but the chart is hinting at something important — a potential double top formation near this level.
On the 4H time frame, the previous swing high was set on 8 May at 65.48%, followed by a bearish shift on 9 May when the 28 April swing low was broken. BTC.D made a lower low at 62% on 14 May, and since then, we've seen a V-shape recovery — but no proper pullback yet.
Now, price is once again testing the upper levels.
My view? 65.31% may act as a strong rejection zone, leading to a sharp decline.
Here’s the key zone to watch:
Daily HL: 61.90%
4H LL: 62%
Breaking below this zone would send a strong signal that altcoin season has officially begun..
🚨Watchout once breakout above 65.8% will make it to 67-68%, bearish for alts if happens if it didn't then extremely bullish for alts!
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