Two Bearish Divergences Flash on the Bitcoin Dominance Chart, Time for Altcoin to Take Over?

News

  • Reputed analyst notices two bearish divergences flash on the Bitcoin Dominance chart. 
  • Will Bitcoin price fall further if BTC Dominance finally collapses? 
  • Altcoins show strong pump indicators giving altseason arrival more weight.

The discussion on Bitcoin Dominance holding strong and its possible fall to make way for altseason peak is a conversation gaining more traction every day. Recently, one analyst noticed two bearish divergences flash on the Bitcoin Dominance Chart, is this a warning for BTC holders to make a decision?

Two Bearish Divergences Flash on Bitcoin Dominance 

As we can see from the post above, the analyst sharing an image of the recent Bitcoin Dominance chart move notices two bearish divergences flash. Should this mean that the price of BTC will collapse further, or does it simply mean that Bitcoin has already peaked this bull cycle and that it is Altcoins’ time to shine? 

Is BTC Making Way for an Altcoin Takeover?

https://twitter.com/cryptoskullx/status/1902078863510794543

Another analyst adds weight to the conversation. As depicted in the chart shared in the post above, this analyst also makes a similar observation. To highlight, he says that the BTC Dominance has topped and now expects a drop on the chart to 46% level. According to CoinMarketCap analytics, Bitcoin Dominance is currently at 60.7%.  

This means that a steady fall is likely for BTC Dominance in the coming days ahead. The analyst marks this upcoming phase as the final leg of the ongoing bull cycle and could lead to one final parabolic rally for altcoin. He concludes with a message to accumulate quality tokens as money will flow into them inexplicably over the coming days.

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