$BTC DOMINANCE NEAR SUPPORT ....ALT SEASON or ALT CRASH?
BTCDOM $2085 on Binance is near support of $2065 on daily , 3d and weekly timeframes.
On one hand the BTC Dominance index has made a double top on the daily timeframe which is a bearish pattern, while on the weekly timeframes it is still bullish which signals 2 possibilities.
1) If $BTCDOM closes below $2060 for 3 consecutive days , this will trigger an ALTSEASON we haven't seen in history.
EVERY small and medium cap coin will have the biggest run of their lives lead by $ETH which will also have a parabolic rise (signs of which are already seen)
2) If BTCDOM finds support at this level of $2060 and reverses .... this will trigger a mother of all crashes in the ALT market space. A bloodbath which will continue for a fairly long time.
THERE are equally high chances of both scenarios being played and high voltage drama and very high volatility could be expected around this level.
I would advice extreme caution to all my fellow traders in the comming weeks.
A lot of portfolios are about to melt.
TRADE SAFE TRADE SMART
DYOR
NOT A FINANCIAL ADVICE
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