Why I never liked the Alt season naritive.

For months BTC.D has been range-bound between 47.68% and 40.18%. I keep hearing Alt season is coming. When looking at RSI and MACD I don't see strong downward momentum. RSI does not even have much room before it would be oversold. It also has a clear bullish divergence on the weekly chart. Altcoins are further on the risk curve than Bitcoin.