BTC dominance has returned to a stable downtrend on the 12-hour TF. The signal we were expecting after the return of the dominance uptrend on December 15 (the market correction, as a reminder, began on December 17) and which we consider very significant.
Basic targets:
- 57.10%,
- 56.68%,
- 56.26%.
Additional targets:
- 54.96%,
- 53.41%,
- 51.86%.
On the daily TF, dominance has the first signal of a potential low. But as we wrote, consolidation below 58% opens up new prospects for altcoins. If the signal of a potential low for dominance is broken or works minimally, not allowing it to consolidate above 58%, this will open the way to a bull run for a number of altcoins. The trigger for this should be the transition of dominance to a stable downtrend on the daily TF.
As for the prospects of the#BTCrate, a fall in its dominance would hardly be possible now during its correction. This means that growth is a priority. The only question is how deep the correction will be, the prospects of which were written about at yesterday's highs.
We thought and think that it is not too deep. The target yesterday was the volume level of $95,665, while the price has set a low of $96,100.