Technical Analysis

Bitcoin Dominance Is Slowing Down In The Bullish Crypto Market; ALTcoins Are ReadyMay 23, 2024

Bitcoin dominance is slowing down, but in the bullish Crypto market, this can be just positive for ALTcoins from Elliott wave perspective.

We have been talking a lot about dominance in the Crypto market in the last couple of months. We also shared a free chart of Bitcoin.dominance back on March 12, where we mentioned and highlighted final 5th wave of an impulse. CLICK HERE

Bitcoin Dominance Is Slowing Down In The Bullish Crypto Market; ALTcoins Are Ready BTC.D Daily Chart From March 12
BTC.D Daily Chart From March 12

As you can see today, Bitcoin dominance is now on the verge of a break below channel support line after a completed projected wave 5 of a five-wave bullish cycle. Well, Bitcoin dominance can slow down all the way back to 50% – 45% support area, but in the current bullish Crypto market as shared two days ago, this could be just positive for the ALTcoins. We shared a blog about ALTseason back on April 16. CLICK HERE

Bitcoin Dominance Is Slowing Down In The Bullish Crypto Market; ALTcoins Are Ready BTC.D Daily Chart From May 23
BTC.D Daily Chart From May 23

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