BTC.Dominance chart made an impulsive five-wave decline, which confirms a bearish reversal. Currently, it still appears to be completing wave “c” of an abc correction, which could be forming a potential wedge pattern before further weakness.
www.wavetraders.com
As a result, after a five-wave rally on ETHBTC, which confirms a bullish reversal, it might also be finishing wave “c” of an abc flat correction, potentially finding support around the 0.034 area before another rally.
www.wavetraders.com
Overall, it seems that Ethereum and ALTcoins will continue to outperform Bitcoin, but a true ALTseason may only emerge if Bitcoin and the whole Crypto market experience a stronger recovery.
For a detailed view of the Crypto market and more analysis like this, you can watch below our latest recording of a live webinar streamed on October 20:
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