Bitcoin hit $60,000!
What's next? Let's figure out what's going on in the BTC.D chart 👇
BTC Dominance 54,5% - we're still in the linear range. Based on the chart we are almost at the upper boundary of the range, we still have a small potential up to the local ATH.
What people are most waiting for is the decline in domination which means an overflow of funds into altcoins and the subsequent altcoin season.
Given the critical level of the greed and fear indicator - 80 points I wouldn't make any major decisions right now.
The $BTC price could likely be pushed even higher and then go down to the 53k area.
The main conclusion is that if we fail to move up out of the range on the dominance chart, I would expect a correction followed by an increased focus on altcoins.
Always pay attention to this chart - BTC.D, it will tell you the true state of the market.
