BTC.Dominance chart made an impulsive five-wave decline, which confirms a bearish reversal. Currently, it 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, after a five-wave rally on ETHBTC, which confirms a bullish reversal, it might also be finishing wave “c” of an abc flat correction, potentially finding support around the 0.034 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 and the whole Crypto market experience a stronger recovery.
As a result, after a five-wave rally on ETHBTC, which confirms a bullish reversal, it might also be finishing wave “c” of an abc flat correction, potentially finding support around the 0.034 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 and the whole Crypto market experience a stronger recovery.
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.