The BTC volatility index confirms the reversal so far. As already happened in January 2024, October and August 2023. Yesterday’s idea is being worked out.
The March 7th candle will be important. If it also closes in red,#BTCwill be a significant confirmation of our expectation of the range.
What this will mean for altcoins was clearly demonstrated by the second half of last day. And the continuation of their growth/restoration, which is still ongoing.
During this growth of altcoins, the dominance of #BTC is decreasing and has come to important supports:
- downward trend since December 6, 2023, the top of the broken “Diamond”.
- EMA 50 day TF (currently 53.26%),
- volume level 53.19%.
From the last two supports, the dominance so far shows a rebound and a bullish candlestick shadow below. But we don’t see any other signs of a reversal yet. A breakdown of these supports, with a decrease in the BTC Volatility Index, could be a signal for much greater growth in altcoins.
