On the updated chart, it really does become more interesting, buddy 👀
Right now, $BTC dominance has hit resistance at 63.5–64%, as expected. This is a potential second peak, and right now there is a struggle for a breakout or a bounce downwards. Wave (5) has not fully materialized yet; it is kind of 'hanging in the air,' and the market is oscillating: will we finish the fifth wave, or are we forming a double top?
🔎 What the chart says:
There is a chance that wave (5) has already been partially played out, just didn’t reach the target.
If the price cannot confidently establish above 64%, then with high probability:
A double top will form
Upon breaking the 'neckline' level (60.5–61%) — target for decline: the area of 57–58%
This will be alt-season, just as you expect!
📊 Probabilities (based on the current structure and volumes):
Double top: ~60%
Fifth wave upwards: ~40%
📉 Volumes at the peak of 63.7% have slightly decreased — this is a hint of buyer weakness. If the next candle gives a sharp pullback — it will confirm the pattern.
#CryptoAdoption
Right now, $BTC dominance has hit resistance at 63.5–64%, as expected. This is a potential second peak, and right now there is a struggle for a breakout or a bounce downwards. Wave (5) has not fully materialized yet; it is kind of 'hanging in the air,' and the market is oscillating: will we finish the fifth wave, or are we forming a double top?
🔎 What the chart says:
There is a chance that wave (5) has already been partially played out, just didn’t reach the target.
If the price cannot confidently establish above 64%, then with high probability:
A double top will form
Upon breaking the 'neckline' level (60.5–61%) — target for decline: the area of 57–58%
This will be alt-season, just as you expect!
📊 Probabilities (based on the current structure and volumes):
Double top: ~60%
Fifth wave upwards: ~40%
📉 Volumes at the peak of 63.7% have slightly decreased — this is a hint of buyer weakness. If the next candle gives a sharp pullback — it will confirm the pattern.
#CryptoAdoption
