What an absolutely interesting place to be at on the BTC Dominance chart.
-Currently resting on old support of 39.23%.
-Inside of a falling wedge pattern.
-Bullish divergence on the weekly chart.
The significance of this is that Bitcoin could pull from the Alts to have another leg up, making new all time highs for Bitcoin. This is the same thing we saw back in the 2017 bull market. Then once Bitcoin makes a new high it's the Altcoins time to shine.
On the bearish side we still have more support down at 35.00% to fall down to.
-Currently resting on old support of 39.23%.
-Inside of a falling wedge pattern.
-Bullish divergence on the weekly chart.
The significance of this is that Bitcoin could pull from the Alts to have another leg up, making new all time highs for Bitcoin. This is the same thing we saw back in the 2017 bull market. Then once Bitcoin makes a new high it's the Altcoins time to shine.
On the bearish side we still have more support down at 35.00% to fall down to.
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