#Bitcoin dominance analysis

BTC.D is moving within a rising wedge on the weekly time frame, which is technically a bearish pattern. The RSI is in the overbought zone and is forming a bearish divergence. Therefore, we can expect a drop in BTC.D soon. A sustained breakout of the rising wedge would provide strong bearish confirmation. A downtrend in BTC.D, while BTC is moving sideways or up, indicates a rally in altcoins.