#MarketRebound $BTC
๐จ BTC Dominance - Market Update โ ๏ธ
BTC dominance is currently facing pressure near 63.30%, right after forming a descending triangle and breaking below the minor support area. This indicates a potential short-term bearish move, especially if dominance continues to stay below this zone.
๐ Current Market Structure:
โ BTC dominance recently bounced from the 61.31% demand zone and rallied strongly.
โ Price formed a lower high structure followed by compression, indicating exhaustion near the top.
โ It has now broken below the support box (near 63.40%), signaling possible retracement.
๐น Resistance Zone: 63.53% โ 63.80%
๐น Support Zone: 62.68% โ 63.03% (Potential retest zone below current price)
๐ Bearish Scenario:
If BTC dominance continues to drop and retests 63.03% without reclaiming it, we might see a move down toward 62.68% or even deeper, which may create room for altcoin outperformance.
๐ Bullish Scenario:
Reclaiming and holding above 63.40% with strong volume can invalidate the breakdown and may lead to another push higher, giving BTC more market dominance.
๐ Conclusion:
BTC dominance is currently in a key decision zone. Watch closelyโthis will influence altcoin momentum in the coming hours! ๐๐
