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Bitcoin dominance is slowing down in the bullish crypto market – Altcoins are ready

Bitcoin dominance is slowing down in the bullish crypto market – Altcoins are ready
Gregor HorvatGregor HorvatWavetraders

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.

Chart
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.

Chart
BTC.D daily chart from May 24

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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