Bitcoin Dominance Is Days Away From Triggering A 30% Rally Against Alts

Bitcoin Dominance Is Days Away From Triggering A 30% Rally Against Alts

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Bitcoin smashing through $12,000 gave the cryptocurrency enough momentum and energy to take out $13,000 and revisit last year’s highs. But while it did so, it caused altcoins like Ethereum, Chainlink, and dozens more to bleed out relative to BTC.

It has left alts in a precarious position, potentially about to be left for dead by Bitcoin dominance and a possible 30% rally from here.

Remember The Once In A Lifetime Altcoin

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season.

btc.d bitcoin dominance bb

TA roadmap shows path to peak in dominance before altcoin season returns | Source: BTC.D on TradingView.com

An inverse head and shoulders bottom on BTC.D peaked as the crypto bubble popped, and a breakout of the neckline took Bitcoin to the 2019 top where altcoins were decimated in its wake.

Related Reading | Crypto Analyst: Altcoins To “Tank” While Bitcoin Runs For All-Time High

Another 30% rally from the middle Bollinger Band that could result from a two-week close above the key level, would take BTC dominance to as high as 85%, coinciding with technical analysis resistance and support levels, as well as retesting a rising wedge pattern and forming the head on yet another reversal pattern.

btc.d bitcoin dominance bb

Combining TA with the technical indicator paints a bearish picture for altcoins | Source: BTC.D on TradingView.com

Combining the technical analysis patterns with the indicator shows how the price action between Bitcoin and altcoins could play out over the next year.

Bitcoin’s new bull run beginning and new all-time highs could cause alts to tank as analysts are expecting, but when it finally turns around in late 2022, another epic