This is the simplest way to see why ALTS are now having problems!
Have you observed how $BTCDOM has recently fluctuated up to 3000? The brutal struggle for dominance in the crypto sector has not yet started. To change the balance of $BTC's supremacy throughout the years, far too many alts are being introduced into the market.
High selloffs will continue until the majority of alts hit their lowest price, which may happen this year, next year, or even in the years to come, as the market gets ready for everyone's favorite season, $ALTSEASON.
Returning to the primary issue, why, after just producing impulsive after impulsive waves, are the alts still suffering from bloodbath? This is the demand for BTCDOM's explosive growth, which will eventually be balanced. You may be sure that the resistance of BTCDOM will continue to be retested until it weakens and reaches another high point this year.
BTCDOM continues to exhibit no indications of halting, as we have pointed out since August 12 and 16. This token will probably keep breaking through its main resistance level at 3000 and only stop when the altcoin season begins.
SEPTEMBER 2024 UPDATE (BTCDOM)
This structure is at the heart of BTCDOM's persistent symptoms of weakness. As of right now, we're waiting for BTCDOM to keep testing its resistance until it is denied. The chart should ideally display this possible price behavior. In all likelihood, there may be one more long impulsive wick upward before BTCDOM is completely rejected.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
