What's up with BTC dominance, is it starting a global decline? We've received this question many times in recent days, but due to the indicator being updated, we haven't gotten around to it.

Our last review of#BTCdominance was on September 17. And in fact, there is nothing to add to that analysis. Although we temporarily decided to move away from waves as an additional analysis tool. It is better to study the wave theory. But here the analysis is based not so much on waves as on the overall picture, trend and candlestick structure. Waves are simply an expectation of how the chart may go. And so far the chart is going according to plan. The screenshot shows a vertical dotted line for September 17 and a forecast of movement after.

After the re-high and the new cycle high of 58.61%, dominance went into the predicted decline.

Let's repeat what has already been said: the basic expectation is a correction with a test of the ascending trend from January 14, 2024 and further - a move to the volume level of 59.38% and, possibly, higher. But we consider this future local five-wave pattern to be the final growth of dominance in the cycle. Simply because we expect that there will be an altseason. Its beginning has been delayed, but not cancelled. Plus, a re-high of dominance is more than possible and logical, because BTC has not yet had a bull run in this cycle. And a bull run is a "liquidity vacuum cleaner".

The candlestick structure of dominance on the weekly TF remains ascending and if the trend continues, a reversal can only be expected in the 20th of October - early November.