📈 Bitcoin Dominance Chart Analysis 📉
🔷 Current Bitcoin dominance: 47.76%
🔹 Chart analysis indicates that Bitcoin dominance has been rejected from a resistance level, which is great news for altcoins.
🔸 In simple terms, when Bitcoin dominance increases, altcoins tend to experience a price decline, while a decrease in Bitcoin dominance often leads to a significant pump in altcoin prices.
🚀 It seems like we're on the verge of a small altcoin season, but it all hinges on Bitcoin dominance not breaking the upward level of 48.70%.
💪 The support level for Bitcoin dominance is around 45%. If there is a retracement, it could potentially reach this level before the next altcoin blood bath.
👀 Keep an eye on these levels:
Support: 45%
Resistance: 48.70% / 62%
🔵 Let's stay vigilant and monitor these levels closely.
Remember, cryptocurrency markets are highly volatile, so it's important to conduct thorough research and seek professional advice before making any investment decisions.
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