$BTC dominance has been confusing people lately, but it might be looking way better than you think.
Despite breaking structure in a positive way for alts, it's been going down, back up higher than people thought and now down again.
The reason for this is that market structure works differently than most people think.
Support lines ain't absolute, trendlines ain't either.
They are literally INVISIBLE lines that we draw ourselves.
But what they do, do well? Highlight structural breaks.
Change of trend or momentum.
Bitcoin dominance took a pretty strong tumble in a very long time last month.
So, obviously people started getting confused when it went back up last week. Especially when it did not respect the higher trendline as a retest.
(I know I'm probably making this quite complicated for beginner level TA analysts but bear with me)
The earlier break of structure was quite proposing and despite price not retesting the outer trend like or higher time frame support.
It did actually retest its area of origin.
The supply area it left behind or orderblock for those more well versed in TA terms.
Nothing is 100% absolute but don't count out Bitcoin dominance breaking down at all just because we retraced a little last week.
And certainly not because it was not respecting some imaginary trend line we drew (the line is mainly there to highlight a break of structure).
All things are still falling into place. It's just only visible for those well versed enough to see it.
Don't fall for the retail traps.
