Despite last week accidentBitcoin Dominance (BTC.D) remains considerably high, strengthening its strong position on the graphics. This sustained increase in domination sends a clear message that Bitcoin (BTC) still has considerable attention to investors, leaving the rest of the market, in particular altcoins, fighting to follow the rhythm.
The domination of the bitcoin spreads in advance, the major eyes resistance
Despite a brief retrace last week, Daan Crypto Trades stresses that the overall structure of The BTC.D graphic Remains bullish, the flagship cryptocurrency continuing to attract substantial capital entrances. What stands out the most as the domination of bitcoin increases is its stable approach to a level of critical resistance at 71.3% – an area historically marked like the summit of BTC.D during the previous cycles.
The analyst's graph shows three unsuccessful attempts to break this level in 2019, 2020 and 2021. Each rejection was followed by significant altcoin rallies, indicating that this area could again be an important battlefield between Bitcoin and the Wider Altcoin market.
If BTC.D revisits this Historical resistance levelDaan Crypto Trades suggests that it could serve as a key signal so that traders closely monitor the behavior of altcoins, as any rejection could trigger a high rotation of capital in altcoins.
For the moment, Bitcoin remains under control, trained by Institutional entriesincreased demand, and generally Positive market feeling. Altcoins, on the other hand, continue to remain behind, in difficulty due to the reduction of liquidity and the lower interest of investors. Nevertheless, Historical price trends Indicate that once the domination of the bitcoin reaches the summit and begins to fall, the altcoins could be ready for a high return, signaling the possible start of the Altcoin season.
The analyst says that BTC.D reaches a summit
After having known months of regular earnings, a cryptographic analyst identified as “CT_TAC” on X said that the domination of bitcoin could approach his peak. He revealed that BTC.D also flashes potential weakness after having broken down a climb Coin graphic model And fighting to recover lost ground. This ventilation marked a critical change in the momentum, with BTC.D soak briefly before Try a recovery.
In particular, a sustained movement lower in the domination of Bitcoin would indicate that the capital has finally started to turn out of the flagship cryptocurrency and in altcoins – a necessary condition for a Altcoin season. With BTC.D which is still struggling to recover old summits, the analyst noted that the performance of next week will be essential to determine whether it continues to increase or falls towards new stockings.
Pixabay star image, tradingView.com graphic
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