BTC Dominance - potential for alts to run
BTC dominance (monthly chart) was rejected at the 64% level.
Broadening formation on the higher time frames, while the lower time frames look like a bear flag/bearish pennant.
I would expect to see a measured move of at least -7% to the downside. Potentially lower (-15%), which places us at the bottom of the accumulation zone.
This would give alts a very strong opportunity to run IMO. Eth/btc has a great set up, as does Link/btc.
The move should take 1-3 months to materialize.
Good luck.
Broadening formation on the higher time frames, while the lower time frames look like a bear flag/bearish pennant.
I would expect to see a measured move of at least -7% to the downside. Potentially lower (-15%), which places us at the bottom of the accumulation zone.
This would give alts a very strong opportunity to run IMO. Eth/btc has a great set up, as does Link/btc.
The move should take 1-3 months to materialize.
Good luck.
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