The question that worries many of us: when will we see this long-awaited altseason? Let's figure it out!
📊 On the weekly chart of BTC dominance since September 2022, we see an ascending channel. The reversal occurred due to a triple bullish convergence in the 39-40% support zone, which was formed for as many as 68 weeks. As a result, BTC dominance grew from 39-40% to 57-60% and continues to grow for 107 weeks!
🔄 Now we have the opposite picture. From May 2021 to September 2022 there was a bullish trend, and now we are seeing a bearish one. For 48 weeks, the strongest bearish divergence has been forming in the 57-60% resistance zone. The last week closed with a doji candle - a signal of uncertainty.
📈 To confirm the decline, we need a close below 57%. If BTC dominance remains above 59%, this could mean continued growth. If we see a reversal signal, then from October 7, 2024 to January 13, 2025, we expect a strong signal for alts.
💡 Personally, I expect BTC dominance to drop below 57% soon, maybe to 50-48%, and then bounce back. This will be the key moment: either dominance will reverse and grow to 68-72%, which will lead to a mini alt season, or it will fall below 50-48%, and we will see a real super alt season, like in 2017!
⚡️ Let me remind you: a decrease in BTC dominance during its growth or flat is a sign of altseason! And an increase in BTC dominance during any movement is, on the contrary, a signal of a fall in altcoins.
Hopefully we'll see the first scenario soon! Expectations are also confirmed by TOTAL2 and TOTAL3 data.
Let's follow the market together! 💪💰#cryptocurrency#altseason#BTC#analysis
