BTC Hits $108K 🚀 What It Means for Alts!! 🤷🏻♂️
Bitcoin dominance (BTC.D) is testing key resistance near 58%—a “scary zone” for altcoins. Historically, when BTC.D reaches levels like this and rejects, altcoins rally as liquidity flows away from BTC into higher beta assets.
The chart shows BTC.D approaching critical resistance with multiple confluences:
• 58% Resistance: Significant rejection area.
• 200-Day Moving Average: Providing extra resistance overhead.
• Trendline Retest: BTC.D is pushing up into a previously broken trendline.
If dominance rejects here, alts could catch a bid, especially ETH and other BTC beta plays. Keep an eye on the BTC.D chart for confirmation—if it reverses, it’s game on for altcoin season.
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