- Bitcoin dominance may drop 39%, signaling a potential altcoin rally.
- BTC must break $108K resistance to trigger strong bullish momentum.
Bitcoin dominance may be nearing a reversal after an extended uptrend. EGRAG CRYPTO has identified a large bearish megaphone formation on the Bitcoin Dominance chart. This structure, often linked to heightened volatility, points to a potential retracement. The analysis sets a projected cycle bottom around the 35.50% dominance level, marked in red as a key support zone.
According to EGRAG, this area could act as a major back-test following BTC.D’s recent uptrend. The analyst stated that “what goes up will always come down,” reinforcing the view that a decline is likely part of the broader cycle.
Key Fibonacci levels from the chart support the possibility of a retracement up to 39% from the recent peak. EGRAG advised traders to avoid short-term speculation and instead focus on long-term cycles that have historically shaped market behavior. The support zone at 35.50% remains critical for defining the next phase of capital flow within crypto markets.
Van de Poppe Sees Bitcoin Setting Up for Breakout
Michaël van de Poppe shared his outlook on Bitcoin’s price structure, noting that the asset is consolidating within a key range. A breakout above $108,924 is essential to initiate new upward momentum. He emphasized that this resistance zone has historically marked the start of accelerated price action.
The chart showed a sharp wick just below $101,000, which van de Poppe labeled as a “buy-the-dip” opportunity. He observed growing support in this area, suggesting that liquidity had been absorbed efficiently. An additional buy zone exists in the $103,000–$104,000 range, which remains under close watch.
However, the analyst warned that a drop below $103,000 could lead to another liquidity sweep before any rally. With long-side liquidity building, a fake-out scenario remains possible. Monitor these zones closely as the market prepares for a potential breakout phase.
At the time of writing, Bitcoin is currently trading at $106,607.57, reflecting a 1% decline over the past 24 hours.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
