The dominance of BTC yesterday and today broke our forecast. It worked only partially, growing from July 18 to July 22, and then after a correction on July 23, instead of continuing the decline, the downward trend was broken. 

For the third day now, the trend on the daily TF for#BTCdominance is upward. With the potential to continue until July 30 - August 1.

We adjusted, but did not revise, our medium- and long-term expectations.

The most important thing is that the high of June 18 was rewritten on this growth, which rebuilds the picture more globally. The rebound high in wave B is moved from June 18 to today's high. And taking into account the growth potential in the coming days, it will probably be even higher. We are waiting for growth to test the global upward trend from November 29, 2022 (indicated by a dotted line). That is, in the area of ​​56.80-56.90%, but not higher than the high on April 13 (57.03%).

This trend dotted line is a very important support for the entire increase in BTC dominance since the end of 2022. The first attempt to break it was in January 2024. Then, a more decisive attempt - in March 2024. With an unsuccessful attempt to return higher in June. The current growth can be interpreted as another attempt to break through this resistance. And we expect that it will also be unsuccessful.

By the way, the dominance chart in June-July can, with conventions, be considered as a “Double Bottom”. And in this case, his goal is almost fulfilled. You can expect a correction, but a small one for now and before the final move up to 56.80-56.90%.

Globally, this disruption does not change the picture - it is a delay in the start of a tangible correction of dominance, but not its cancellation. We are not expecting an update on April 13th. Which we evaluate as the peak in the cycle and the high of the fifth wave. Of course, if the BTC bull run had started now, the dominance would have rewritten this high as well. But we expect the bull run to begin later, giving altcoins the opportunity to grow and reducing their dominance to the area by at least 50%.

We show current expectations and everything that has been said on the chart, again focusing primarily on the waves:

1. We break down the growth since June 28 into five waves, where the high of the third wave can be placed today. Today or tomorrow we are expecting a correction to the area of ​​55.90% and then another growth to the area of ​​56.80-56.90%.

2. Within this structure, in the third wave there is a formed movement of five waves (indicated in white) and this adds arguments to the fact that the third wave in the larger structure is completed.

3. After growth to the targets of the fifth wave, we wait for the beginning of a correction of a higher order. It’s time to finally let altcoins breathe more freely.