BTC DOMINANCE
Retailers love to trade altcoins, right? But how many times do they check BTC.D? I guess never. It's the main index for altseason. BTC dominance pumping means alts are dumping and vice versa. Let's observe this index today.
On the weekly timeframe, it has broken the downward trendline on 12th August, 2024. Since then, no altseason except some specific coins pumped. Now, if we put the fibonacci tool from swing high to swing low, it seems that it has finally come to a crucial resistance zone (first screenshot) and I expect BTC Dominance to reject from here. Rejection here will send it slowly to 53% - 49% zone. Final target for this pattern will be 34% (even I can't believe this target, lol 🤣)
Now on daily timeframe, this index is pumping to fill the Golden Pocket Zone of that wick (check second screenshot) and that should be the zone to start falling which will be your true altseason.
Now the invalidation for this pattern will be weekly candle closing above 64.18%. So, stay alert.
HAPPY TRADING 🫡
