Certified Analyst Says Bitcoin Dominance Could Reverse At 64% – Is It Time For Altcoin Season?
Summary
Bitcoin is currently consolidating around $105,500, having reached an intraday high of $106,807 before returning to this level. Its dominance in the crypto market, measured by BTC.D, has stalled around 64%. Analyst Tony Severino suggests that this 64% level could indicate a potential reversal point, highlighted by a Doji candlestick formation at a previous Falling Window. If the current monthly candle forms an Evening Star and closes below 62%, it may signal a decline in Bitcoin's dominance. Despite these indicators, Severino cautions that this does not guarantee an altcoin season. Bitcoin remains above $105,000, with a current dominance of 63.1%, while Ethereum's market share has increased to 9.6%.
