BTC.D shows a strong reversal sign, but it is still strong
BTC.D (BTC dominance) ran as my last prediction, it ended at around 73.5% before having a correction. A regular bearish divergence between BTC.D and its RSI appeared on the daily chart, forecasts a bigger correction of BTC.D. BTC.D meets its MA20, strong support that can push it up to near 73% before another down. There are 2 strong supports (MA50 and local support) below MA20 that prevent BTC.D to have a hard dump. Since BTC.D momentum is still strong, I expect that BTC.D won't drop to below 69% in this month and next month. Altcoin season is not coming yet, even it may never happen again, but there will have a small rally of altcoins regarding BTC.D's drop. If BTC.D's RSI breaks its long-term support that lasts for 9 months, a massive drop of BTC.D will take place leading to an altcoins blooming season.
P/S: It may have a small fluctuation of the values (around 1%). I use tradingview BTC.D in this analysis, in coinmarket.com the BTC.D values might lower than tradingview values around 1-2%.
An expected move of BTC.D and its MAs are as shown in the chart. Thanks for reading, share your thought in the comment.
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BTC dominance seems to lose its RSI support. It is a good sign for altcoin in the next days.