Hello, Skyrexians!
Last week our main purpose was to catch the potential bottom for OTHERS.D and top for $BTC dominance. While the BTC.D has not still flashed the reversal signal, but altcoins did. So, we have a chance that reversal is coming, but don't be so optimistic on that, we need to see some extra confirmations anyway.
Let's take a look at the daily chart. Here we can see the 5 Elliott waves structure. Previous Elliott waves we have already looked in details in our recent analysis, today we need only wave 5. We pointed out 7-7.6% as a final target. The most likely reversal target was 7.4%, but now we are seeing good reaction from the minimal target. Yes, we have green dot signal on the Bullish/Bearish Reversal Bar Indictor [Skyrexio]. This is very strong, but let's wait at least the momentum change on the Awesome Oscillator and the opposite signal on the Bitcoin dominance.
Best regards,
Skyrexio Team
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