#BitcoinBounceBack
Bitcoin Dominance Nearing Reversal – Is the Altcoin Bear Market Finally Ending? 🚨
Bitcoin dominance (BTC.D) is approaching a critical reversal point, signaling a potential shift in the market. While this chart has been frustrating to analyze, it’s now showing strong signs that the altcoin bear market could be nearing its end.
📊 Breaking Down the Weekly Timeframe
Examining BTC.D on the weekly chart, we can see three red dots forming on the Bullish/Bearish Reversal Bar Indicator. However, not all signals are equally reliable. Here’s how we filter out the noise:
✅ First Red Dot – Formed on a weak bar with no angulation with the Alligator indicator—not a strong signal.
✅ Second Red Dot – A strong bar, but it appeared during wave 3, which makes it less ideal for confirming a trend reversal.
✅ Third Red Dot – This is the most reliable signal—it aligns with clear angulation, bearish divergence with the Awesome Oscillator (AO), and the potential formation of wave 5.
📈 What This Means for the Market
If BTC.D begins to reverse, it could mark the end of Bitcoin's dominance surge and the beginning of a stronger altcoin cycle. The attached crypto total market cap chart (excluding top 10 coins) also supports this narrative, showing a bounce from key trendline support.
🚀 Could this be the turning point for altcoins? Stay tuned!