In this episode of NewsBTC’s daily technical analysis videos, we are going to look at Bitcoin dominance and the possible signs of a surprise altcoin season developing during the bearish macro backdrop. Take a look at the video below: VIDEO: Bitcoin Dominance Analysis (BTC.D): September 7, 2022 For today’s video, we are going to look at Bitcoin dominance on monthly and weekly timeframes. There is potentially a notable breakdown in progress that – based on its significance – could be telling of something bigger: a possible altcoin season that no one is expecting. Related Reading: WATCH: Ethereum Gains Momentum Ahead Of The Merge | ETHUSD September 6, 2022 Bitcoin Dominance To Submit To Altcoins Typically, altcoins only perform well during a bull market. So for BTC.D to be breaking down is very unusual considering the current macro backdrop. Still, BTC dominance is breaking down from a diagonal trend line on price and the Relative Strength Index. The LMACD is also clearly displaying a struggle between bulls and bears. Or more accurately put, Bitcoin versus altcoins, with altcoins currently taking the lead. Is an altcoin season about to appear? | Source: CRYPTOCAP-BTC.D on TradingView.com The Signal From The Last Alt Season Is Back Moving to weekly timeframes on Bitcoin dominance, trend lines become a little more clear. Price is breaking down from both diagonal and horizontal support of great importance...
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