BTC dominance is likely to end its rise from May 29-30. Since May 29, we have been predicting a rebound from the support pool. The rebound occurred, almost reaching the supports. And the vigorous growth of BTC dominance began with a gap between the daily candles on May 29 and 30. The gap, as expected, closed quickly, on June 1st. But this did not break the upward structure of the candles and the growth continued.

From June 4 to June 6, the dominance tried to break through important resistance in the form of the EMA of the 50 day TF (currently 54.61%). Today the breakthrough finally happened. But the growth impulse itself, we repeat, already looks complete.

The scenario of the beginning of a decline in dominance can only be canceled by a sharp surge in#BTCvolatility - either with a dump of more than 10%, or with an increase to a new ATH (the priority of the two options). In this scenario, the immediate goal is resistance in the form of a global upward trend from November 29, 2022 (marked with a dotted line, currently around 55.39%). Next is the high of this cycle on April 13 - 57.03%. But increasing dominance is a non-priority scenario for us.

If, based on the results of today or the weekend, the dominance returns below the EMA of the 50 day TF and, moreover, breaks the volume level of 54.54%, we will wait about a week for a decrease in dominance. Which, as you know, in a bull market more often occurs when altcoins rise. The target range for the moderate decline scenario is 53.19-53.88%.

Let us recall the quote from the post on May 31:

“The market is guaranteed to continue at the start of the altseason, as long as#BTCdominance is below the volume level of 54.54% and the EMA of the 50 day TF (currently 54.67%). Even slightly higher squeezes are not scary now, because they do not break the downward structure during the week.”

A return to dominance below these levels could provide a new wave of growth for altcoins.

On a weekly timeframe, in an optimal scenario, we can see another 5-6 weeks of decreased dominance, not counting the current one. With acceleration after the breakdown of the global downward trend since 2017 (indicated by a dotted line). After which we will wait for a rebound.

The worry for the expected decline has been removed from the chart for now, so as not to confuse with assumptions.