Its effect is very clear on altcoins, which remain at their lows, with some breaking down, all due to the rising dominance of Bitcoin.
On the weekly chart, it has two resistance levels.
62%
64%
And on the monthly chart, its resistance is at 66%.
Dominance will indeed begin to decline if we see a monthly candle close below 60%, which is the most important area.
Currently, the pressure on investors is significant, and the challenge is difficult.
In the end, we can't catch the bottom or sell the top.
"Bitcoin's dominance continues to surge, exerting a profound impact on altcoins, which remain at their lows, with some experiencing a breakdown. This trend is driven by Bitcoin's dominance rising on the weekly chart, where it faces resistance at 62% and 64%, and on the monthly chart, where it faces resistance at 66%. A decline in dominance is likely to commence if we witness a monthly candle close below 60%, a critical pressure zone. Currently, investors face immense pressure, and the challenge is daunting. Ultimately, timing the market to catch the bottom or sell the top is extremely difficult."