The situation regarding BTC dominance - they rewrote the high from May 16 and there is nowhere to grow further.

We didn’t expect this high to be rewritten. But globally this does not change our expectations. Because the structure is not broken.

But the growth is significantly higher from the current ones, above the high of April 13 (57.03%), would violate the idea of ​​the completion of the fifth wave of the global upward growth structure from September 2022 and the beginning of the global correction of dominance. Then all that would be left to say about altcoins is “let’s remember.” We do not expect such a scenario to develop.

The expectation of a growth correction from 2022 is still in effect. And work to start local ABC correction. In it, wave B has now lengthened, but according to the RSI on the daily TF there is already a bearish divergence. 

We were waiting for a reversal into wave C earlier, focusing on the reversal candle structure on the day since June 6-7. The picture of dominance then made us believe that the decline on June 7 was a long squeeze. June's charts clearly showed that no.

Already now, with new introductions, the idea came to mind to consider the growth of dominance since May 29 as a five-wave structure.

If this vision is correct, it means now dominance in the fifth wave of this local structure. And you need to watch for reversal signals. First of all:

- the appearance of a bearish shadow on daily candles (like now),

- a breakdown of the upward trend support from May 29 (they did not apply it to the already overloaded chart),

- a breakdown of the global upward trend support for the entire uptrend since the fall of 2022 (indicated by a dotted line, dominance again passed above it yesterday and today).

These are three signals that should not only trigger a growth correction on May 29, but also confirm the start of the formation of wave C with a decrease in dominance below 53.73%. For the May 29th wave, wave A. Such a movement, if it begins, may be primarily driven by the growth of altcoins (we consider the scenario of a global crypto-apocalypse with everything going to stablecoins unlikely).