BTC dominance showed the predicted rebound yesterday and is correcting again today. On May 29, they warned of a high probability of at least a local rebound from the pool of supports.
The rebound occurred even without a test of support, and so actively that it left a gap. Gaps on the dominance chart close, in general, very quickly. And today's red candle shows that this one is likely to be no exception. Most likely, already at the weekend we will see the closing of the gap and the breakdown of the ascending structure that emerged yesterday and today during the day.
We are still waiting for the support pool dominance test. And we still believe that if these supports are not broken in the coming days, they will most likely be broken in the coming weeks. The market is still guaranteed to be at the start of the altseason as long as#BTCdominance is below the volume level of 54.54% and the EMA of the 50 day TF (currently 54.67%). Even slightly higher squeezes are not scary now, because they do not break the downward structure during the week.
On a weekly TF, in an optimal scenario, we can see another 6-7 weeks of decreased dominance. With acceleration after the breakdown of the global downward trend since 2017 (indicated by a dotted line). This will be followed by a rebound.
The current weekly candle is still in Doji format and can become decisive for the medium term.
