Today we will start with the main thing - BTC dominance. December 20-22 - dominance entry into the reversal candle formation on the daily TF. Today is the first of three possible (not mandatory) marks.
An extremely important signal, the working out of which should turn altcoins upward. If it is broken and the dominance high set on December 20-22 is rewritten, the start of growth for altcoins will be postponed again.
Let us recall that we assess the entire growth of dominance since December 4 as a rebound in the already started global downtrend of dominance. Large-scale manipulation "Sell your altcoins!" We thought and think that this is a good time to buy. And we are preparing to buy. We are simply acting on signals that we consider significant.
Could they be wrong? The probability is historically extremely small, but it exists. And let the crowd in Binance Square, aggressive about the altseason, go crazy further. Our argument is technical analysis. Theirs is wrong risk/money management, wrong entry points and a "cortisol cocktail" in the blood. Time will judge very soon. The first important data will be available within three days, including the current one. And for buying altcoins, let us remind you, we have been waiting and are waiting:
1. Potential dominance high according to our indicator on the daily TF (first signal received).
2. Signals for a stable uptrend on TOTAL3 on hourly TFs.
Until the dominance on the weekly TF closes the candle above 58.65%, there is not even a risk of transferring the working out of the altezon.
There is a landing of too many of those who were waiting for it. And we will talk about postponing the altseason ONLY if, according to our indicator, dominance returns to a stable uptrend on the weekly TF. This is an unlikely and, if it happens, an extremely unpleasant scenario for the entire market. But our purchases are planned on the spot. There is enough safety margin to wait out the force majeure.
We would like to draw attention to the combo of signals of potential high dominance on different TFs:
- the first of three possible (!) marks on the daytime TF has already been announced,
- already three signals of potential high on the 4-hour TF,
- the first of three possible (!) marks of a potential high on a 2-day TF.
What additional triggers will there be for a reversal of dominance according to the indicator?
- transition of dominance into a stable downtrend on the hourly TF,
- the appearance of an additional mark of a potential high on the 12-hour TF (by the way, all three basic growth targets have already been reached there).
Additional data outside the indicator:
- We have conducted a trend from the high of November 18. Now the dominance is just running into it.
- Domination yesterday-today broke through the global trend resistance - support for dominance growth since November 2022. An important signal for a reversal would be a return under it. Well, it is important to stay below the volume level of 59.38%.
- According to Fibonacci levels, the price reached the level of 0.382 on the rebound. When reversing and breaking through level 1 (54.76%), the first significant target will be the level of 1.618, or 50.4%. The psychological level following the dense zone of volume levels in the range of $51.54-54.54.
