BTC dominance is pointing lower, while ETH/BTC higher [Video]

Gregor Horvat Wavetraders

BTC.Dominance chart still appears to be completing wave “c” of an abc correction, which could be forming a potential wedge pattern before further weakness. As a result, ETHBTC might also be finishing wave “c” of an abc flat correction, potentially finding support around the 0,035 area before another rally. Overall, it seems that Ethereum and ALTcoins will continue to outperform Bitcoin, but a true ALTseason may only emerge if Bitcoin experiences a stronger recovery.

BTC.D one-hour chart

ETHBTC one-hour chart

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Author

Gregor Horvat

Wavetraders

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

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