BTC Dominance has finally reached an important monthly resistance at 71%. I believe we'll begin to see a significant pullback here now, which will result in the strengthening of the altcoins in Q1 2021.
Inversely i've linked a chart to Altcoin dominance below which has just seen a third touch on a long term monthly trend line which gives me added confluence for the strengthening of alts and weakening of Bitcoin.
When I say weakening of Bitcoin I don't mean a drastic pullback. Bitcoin can still rise while falling in dominance, this actually is more beneficial for alts as a volatile Bitcoin will ultimately have some effect on the alts despite falling in dominance.
Inversely i've linked a chart to Altcoin dominance below which has just seen a third touch on a long term monthly trend line which gives me added confluence for the strengthening of alts and weakening of Bitcoin.
When I say weakening of Bitcoin I don't mean a drastic pullback. Bitcoin can still rise while falling in dominance, this actually is more beneficial for alts as a volatile Bitcoin will ultimately have some effect on the alts despite falling in dominance.
