The GiP pattern with the target on the BTC chart 74 196$ - has been invalidated. This is the opinion of well-known trader Peter Brandt (767k followers), showing the chart and commenting on it:

"The inability of the widely discussed model to properly develop and its failure tells me more about the market than the model itself $BTC"

Interestingly, Brandt published his post today before #BTC crossed the $100,000 mark. The target he sets after the invalidation of the bearish pattern is $122,253.

So far, it seems that at least in part regarding the breakdown of the pattern, Brandt is right. At least as long as the price remains above the volume level of 101 376$ - for sure. So far, we have a breakout of this level and a retest of the breakout.

As for altcoins, the rise of #BTC occurs with an increase in dominance, so their fate in such a situation is to show less active growth. They are responding to signals of a potential low in the dominance of #BTC, which we warned about in recent days.