Behavior of BTC.D and its Impact on the Market
🔹 Context
- BTC.D (Bitcoin Dominance) measures the market capitalization percentage of Bitcoin against the total of cryptocurrencies.
- Its movement is usually inverse to the altcoin market: when BTC.D rises, altcoins tend to fall (and vice versa).
🔹 Current Technical Analysis
1. Failed Retest and Drop within the Triangle
- BTC.D attempted to break a key resistance (upper line of the triangle) but failed to maintain the momentum.
- By falling back within the pattern, it shows momentary weakness.
2. Possible Scenarios
- 🔴 Bearish Scenario
- If BTC.D breaks the lower line of the triangle and confirms with a retest, it could initiate a downward trend.
- This would imply a strong rally in altcoins (altcoin capitalization would rise).
- 🟢 Bullish Scenario
- If BTC.D recovers the upper zone of the triangle and makes a successful retest, it would confirm strength.
- Altcoins could weaken (altcoin capitalization would fall).
🔹 Conclusion
- Key: Observe if BTC.D confirms a breakout or bounce in the triangle.
- Impact on Altcoins: Likely inverse movement (e.g.: BTC.D ↓ = Altcoins ↑).