Bitcoin dominance posting lower highs = Altseason soon?
NOT FINANCIAL ADVICE
Someone gave me an idea on this, but unfortunately I was unable to recall to whom that credit belonged to.. so it goes a little something like this:
There comes a point in time when bitcoin's dominance takes a hit, then it becomes the media darling and gets all the attention it needs to rally parabolically but it never breaks past its previous major highs.
It gets rejected, cue Altseason.
We can see that bitcoin dominance is climbing towards August's highs, but see that rejection level?
We are already seeing $BTC facing immense sell pressure from previous hodlers who missed selling out at May's ATH, and one can be sure that they are better prepared this time around to take profits.
Meanwhile, Ethereum has already posted its new ATH!
So, Altseason, are we there yet?
Someone gave me an idea on this, but unfortunately I was unable to recall to whom that credit belonged to.. so it goes a little something like this:
There comes a point in time when bitcoin's dominance takes a hit, then it becomes the media darling and gets all the attention it needs to rally parabolically but it never breaks past its previous major highs.
It gets rejected, cue Altseason.
We can see that bitcoin dominance is climbing towards August's highs, but see that rejection level?
We are already seeing $BTC facing immense sell pressure from previous hodlers who missed selling out at May's ATH, and one can be sure that they are better prepared this time around to take profits.
Meanwhile, Ethereum has already posted its new ATH!
So, Altseason, are we there yet?