Altcoin Season Approaching? BTC Dominance Signals Major Shift!
Yesterday, Bitcoin Dominance (BTCD) tested the 50% Fibonacci resistance level at 2,848, resulting in a significant daily bounce off this key level. Today, BTCD is attempting to break higher. However, if the daily close remains below this resistance, we anticipate a sharp decline.
In this scenario, Bitcoin Dominance could experience a substantial pullback, potentially targeting the 50% Fibonacci support area near 2,600. This support level not only aligns with Fibonacci analysis but also corresponds to a previous resistance zone, indicating strong market activity at this point.
If this bearish scenario unfolds, it may signal the onset of a robust Altcoin Season. Traders should prepare for the opportunities that may arise during this period!
In this scenario, Bitcoin Dominance could experience a substantial pullback, potentially targeting the 50% Fibonacci support area near 2,600. This support level not only aligns with Fibonacci analysis but also corresponds to a previous resistance zone, indicating strong market activity at this point.
If this bearish scenario unfolds, it may signal the onset of a robust Altcoin Season. Traders should prepare for the opportunities that may arise during this period!
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📱 Telegram: t.me/Tradensee
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.