The dominance of BTC has been showing a bounce since yesterday, which was warned about in yesterday's review. Let's remember:
«... locally, on the four-hour timeframe, the dominance is still in a stable uptrend and there is a signal of a potential low. If the signal is not broken - we can expect that today or tomorrow Bitcoin will pull liquidity from altcoins or, at least, absorb it faster than altcoins.»
The bounce is being realized and altcoins are showing a correction. Moreover, on the hourly timeframe, dominance has again transitioned into a stable uptrend with targets up to 58.18%.
On this timeframe, since yesterday, there has been a working out of a strong signal of a potential low. BUT at the same time, on the older and more significant four-hour timeframe, the dominance of #BTC has transitioned into a stable downtrend today. With targets up to 52.15%.
In such contradictory signals, it makes sense to use additional tools, such as EMA 50 and 200 on these and other hourly timeframes. In particular, if today the dominance can hold below the EMA 50 of the four-hour timeframe (currently 56.42%) - we will be waiting for the breakdown of the hourly timeframe signal and the continuation of the decline in dominance. With the growth of altcoins. Maintaining this support today, on the contrary, will open the way for the continuation of the growth of dominance, at least up to the basic targets up to 58.18%. And more likely - at most up to the EMA 200 of the four-hour timeframe, which is currently at the level of 57.66%.
Globally, the situation does not change: subjectively - we are already in a large altseason, but few believe it. They will believe when they start buying 'unwanted' altcoins at highs, becoming exit liquidity.
The current growth of dominance #BTC is only a retest of the breakout of the trend support that has been in place since the beginning of 2024. Confirmation of expectations for further declines will be a candle closing below the EMA 50 of the weekly timeframe (currently 55.78%).
