Bitcoin Dominance Analysis:
Bitcoin Dominance is now at the support of 40% area. There is also a downtrend line which is working as a resistance on daily time frame.
Now there are two possible cases:
The first case is Bitcoin dominance break 40% support level and go down. In this case we will see good rally in altcoins.
The second case is Bitcoin dominance bounce from 40% support and form a double bottom pattern. Dominance will then head towards 50% resistance area. In this case we will see sideways movement or downward movement in altcoins.
Use stop loss in all your altcoin position and keep an eye on dominance.
