Let me start by stating I am no professional trader, or financial advisor, so my statements below are my personal opinions only. I strongly encourage everyone to challenge my theory with constructive criticism in the comments below.
The 100-BTC.D Daily chart is printing a larger Bullish Pennant, indicating weakness in BTC dominance, and potentially indicating a new Altcoin rally ahead (which I would really enjoy)
The last Bull Pennant that the 100-BTC.D chart printed was in January 2021, which lead to the big Altcoin gains between Jan-May 21. Since reaching the 'target' of that January pattern, Altcoins have taken a price hit as profits were moved back to BTC.
With the recent BTC rejection of 42K, we may start to see some of that money move back into Altcoins are traders start looking for more short term profits.
In the past week I've noticed several altcoins pump ~30% in a few hours as extremely large (relative) volumes being traded. To me think indicates big money is starting to re-accumulate altcoins at current prices, preparing for the next mark up.
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