#BTC DOMINANCE ANALYSIS
BTC.D is currently tracing a rising wedge pattern on the weekly timeframe. It has faced rejection from the trendline resistance. The RSI indicates overbought conditions and is showing bearish divergence.
A downward movement from this point, leading to the breakdown of the rising wedge, would serve as bearish confirmation. A sustained breakdown of the rising wedge would reinforce the bearish sentiment.
If both BTC and BTC.D decline, it suggests capital is exiting the market. Conversely, if BTC.D declines while BTC moves sideways or upwards, it could signal bullish prospects for altcoins.
Update soon, my friends 💫
