$NASDAQ $NDAQ.US NQ respecting the structure, and is right now at the neckline area.
The current daily candle is showing strong selling pressure, closing near the lows of the session. This break below the neckline increases the probability of the bearish scenario playing out.
Breakdown here can lead to a sharp decline in prices till the lows of 26,000s.
Momentum here is favoring the downside, given the parabolic run and the distribution phase after that run.
DXY strengthening, FED's uncertain policy and the potential rate hikes in september, EVERYTHING is bearish for this chart.
This is the kind of rotation people have been waiting on for a while now. $BTC dominance is still not moving much though as not all alts are performing.
If $ETH keeps outperforming at this pace, that dominance number is usually the next thing to roll over.