So this pattern shows as BTC dominance has broken down this triangle. This means that alts should fly from here, at least in theory. BTC should settle down and money should flow into alts.
However if dominance dumps too much BTC is likely to dump as well and as domino effects maybe people will buy fiat causing a general market dump. So it's a balance. For alt season we need a steady and slow BTC.D decline until a certain point off course.
Although this analysis is not referred to a particular coin it's referred to the whole cryptomarket because, UNFORTUNATELY (in my opinion), BTC makes cryptomarket. Alts are too much conditioned by it so the only situation in which market is green are when BTC moves very very slowly or doesn't move at all.
I hope in the future there were two or three alts with a market cap similar to BTC in order to untie market from BTC but I don't see this happening anywhere soon.
However if dominance dumps too much BTC is likely to dump as well and as domino effects maybe people will buy fiat causing a general market dump. So it's a balance. For alt season we need a steady and slow BTC.D decline until a certain point off course.
Although this analysis is not referred to a particular coin it's referred to the whole cryptomarket because, UNFORTUNATELY (in my opinion), BTC makes cryptomarket. Alts are too much conditioned by it so the only situation in which market is green are when BTC moves very very slowly or doesn't move at all.
I hope in the future there were two or three alts with a market cap similar to BTC in order to untie market from BTC but I don't see this happening anywhere soon.