BTC DOMINANCE BOTTOMED OUT?
$ETH flashes a really scary signal 🚦🛑
The BTC DOMINANCE INDEX on Binance has held its very long term weekly and monthly trendline that it had respected since 2022 and also bounced after touching it...
ALTHOUGH it is still early to call it a bottom but from what it looks like.. THE BTC DOMINANCE INDEX is reversing.
THIS couples with ETHERIUM breaking down from it's 4 hourly trendline and now it might test $3000. If it will not hold this level , we will have an epic bloodbath in all ALTS.
$3000 on ETH is a really important level...
Also keep an eye on BTCDOM on Binance, if it gets back above $2100 the consider the ALT SEASON as OVER. IF BTC DOMINANCE breaks below $2050 - $2065 for 3 consecutive days... we will have a full force ALT season.
LIKE I presented my analysis in my previous post, there will be some extreme moves in ALTS on both sides burning a lot of hands. TYPICALLY this has happened every time $BTC is about to make a major move on either side....mostly downside.
So like I always say
TRADE SAFE TRADE SMART
DYOR
THIS is not a financial advice
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