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📈 BTC Dominance - Candles 1H.
🔹 Everyone is worried about alts. Let's start with them.
🔹 Previously, they expected a decrease in dominance in the area by at least 45%, which would be a signal for the growth of alts. That did not happen. As we see, the market is head over heels in alts, and large wallets are pouring their savings into the market at the slightest rebound. I’m generally silent about sentiment. On some days the sentiment bot sends 20 - 30 messages about exchange entries of alts, and this is only a small part of the alts from the watchlist.
🔹 At the same time, there is no global collapse in alts. + - many alts sit on their global support blocks. If you look at the average for alts since April 21 (TOTAL2), they were hovering in the range of 5 - 6%. At least until the trend changes to Bitcoin dominance and TOTAL2, you can forget about medium-term positions.
🔹 With current Bitcoin dominance, there is no chance for alts. On the weekly timeframe we have the highest close since the summer of '21.
🔹 From the point of view of moving averages, dominance has a target in the region of 54% - MA200h and for alts it will be a complete fiasco.
❗️ Conclusions. The situation with dominance and alts is uncertain. They are not allowed to go down, there is no one to sell to, there is no growth. Frankly speaking, there is no hope for growth. In the moment, some alts may show growth, but it is impossible to guess what will shoot and what will collapse after the trend changes. #btc #bitcoin
