#BTCdominance Analysis
BTC.D is currently forming a rising wedge pattern on the weekly chart. It has encountered resistance at the trendline. The RSI shows overbought conditions and displays bearish divergence.
A decline from this level, resulting in a breakdown of the rising wedge, would confirm a bearish outlook. Continued breakdown of this pattern would further strengthen bearish sentiment.
If both BTC and BTC.D decline, it indicates capital leaving the market. However, if BTC.D drops while BTC remains steady or rises, it may suggest bullish opportunities for altcoins.