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BTC.D Bearish Trend

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The diamond pattern indicates that btc d is potentially heading downwards. However btc dominance has also failed to cleanly break the blue structure on the 4hr time frame several times. I see the diamond as a weak confirmation of alt season but a clean break through the blue structure will be a strong and clear confirmation to me to believe we are in alt season.
Note
snapshot it looks like for BTC dominance we are in the blue structure although we are closer to the top. As mentioned, I see us below the diamond as weak confirmation, but I want to see a clean, bearish close below the blue structure to identify a true alt season. We also have spent 17 bars in this blue structure, which is longest we've spent here the past 2 weeks. I see this as bearish for BTC.D and bullish for alts. After having over 4 dips to this zone, i really think we will see nice bearish candle this dip or very soon
Note
snapshot BTC.D has had a clean hourly close through the structure. Waiting on the 4hr, 6hr, and daily candle to all fully close before confirmation
level30nick
Chart PatternsTechnical IndicatorsTrend Analysis

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Chart PatternsTechnical IndicatorsTrend Analysis
level30nick

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.