Analysis for BTC.D (Bitcoin Dominance): Weekly Timeframe 📊
The chart highlights the market cap dominance of Bitcoin (BTC.D) on a weekly timeframe. Several important points are marked, including projected levels for Bitcoin dominance and significant forecast dates:
🟢 October 7, 2024 - Buy Date (Green Line):
This marks a local bottom, suggesting a potential opportunity for Bitcoin to experience a decrease in dominance. This could indicate the start of favorable conditions for altcoins, as investors might rotate into altcoins while Bitcoin consolidates or trends downward.
🟢 February 10, 2025 - Buy Date (Green Line):
This date highlights another expected local low in Bitcoin dominance. If Bitcoin’s dominance declines around this time, altcoins might outperform, leading to potential opportunities in the altcoin market.
Expected Level for Major Altcoin Season:
The horizontal lines and red markers indicate the anticipated level of Bitcoin dominance required for an incredible altcoin season to occur. When Bitcoin dominance reaches the circled area, it could be an optimal time for altcoins to rally, as money may flow out of Bitcoin and into the broader cryptocurrency market.
Note:
All times are based on Los Angeles time (UTC -7). A small margin of error of 1-2 candles is possible depending on the timeframe.
The chart highlights the market cap dominance of Bitcoin (BTC.D) on a weekly timeframe. Several important points are marked, including projected levels for Bitcoin dominance and significant forecast dates:
🟢 October 7, 2024 - Buy Date (Green Line):
This marks a local bottom, suggesting a potential opportunity for Bitcoin to experience a decrease in dominance. This could indicate the start of favorable conditions for altcoins, as investors might rotate into altcoins while Bitcoin consolidates or trends downward.
🟢 February 10, 2025 - Buy Date (Green Line):
This date highlights another expected local low in Bitcoin dominance. If Bitcoin’s dominance declines around this time, altcoins might outperform, leading to potential opportunities in the altcoin market.
Expected Level for Major Altcoin Season:
The horizontal lines and red markers indicate the anticipated level of Bitcoin dominance required for an incredible altcoin season to occur. When Bitcoin dominance reaches the circled area, it could be an optimal time for altcoins to rally, as money may flow out of Bitcoin and into the broader cryptocurrency market.
Note:
All times are based on Los Angeles time (UTC -7). A small margin of error of 1-2 candles is possible depending on the timeframe.
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