Altcoin Season Approaching? BTC Dominance Signals Major Shift!

Yesterday, Bitcoin Dominance (BTCD) tested the 50% Fibonacci resistance level at 2,848, resulting in a significant daily bounce off this key level. Today, BTCD is attempting to break higher. However, if the daily close remains below this resistance, we anticipate a sharp decline.

In this scenario, Bitcoin Dominance could experience a substantial pullback, potentially targeting the 50% Fibonacci support area near 2,600. This support level not only aligns with Fibonacci analysis but also corresponds to a previous resistance zone, indicating strong market activity at this point.

If this bearish scenario unfolds, it may signal the onset of a robust Altcoin Season. Traders should prepare for the opportunities that may arise during this period!