BTC dominance - on the macro retest of the downward breakout of the huge “Bearish Wedge”. Trader and crypto blogger Mikybull Crypto (69.2 thousand subscribers in X) points to this:
“As I mentioned earlier, BTC's dominance is currently undergoing a macroeconomic retest.
The resumption of the downtrend will be massive for altcoins, so patience is required.”
Separately, the analyst points to a pronounced bearish divergence in the RSI on the#BTCdominance chart. Which strengthens the prospect of working out the pattern.
Everyone is waiting for BTC's dominance to decline. The only problem for many is that the rule “The market can remain irrational longer than you can remain solvent” is now being implemented in practice on their deposits and positions. Knocking out of long positions, shaking out of spot positions. Before the big run up. What, according to our assessment, is happening in altcoins now.
