Certified Analyst Says Bitcoin Dominance Could Reverse At 64% – Is It Time For Altcoin Season?

Bitcoin's price is consolidating around $105,500 after reaching an intraday high of $106,807, with its dominance also experiencing a minor fall. The BTC.D, which measures its share of the total market capitalization, has stalled around the 64% level in recent weeks. Certified market analyst Tony "The Bull" Severino notes that the 64% region on the Bitcoin Dominance chart may mark a meaningful point of reversal. The latest monthly candlestick formed a Doji right at the bottom of a previous Falling Window, which in Japanese candlestick theory serves as a critical support or resistance. This candlestick structure suggests the dominance rally may be losing strength, and if the current monthly candle becomes an Evening Star and closes below 62%, the odds of Bitcoin dominance rolling over increase significantly. However, Severino adds that the BTC.D Relative Strength Index closed the previous month above 70, still suggesting strong momentum and keeping the larger trend in flux. Despite these early signals, Severino warns against jumping to conclusions, stating that it does not necessarily guarantee a full-fledged altcoin season. Bitcoin continues to hold steady above $105,000, and until BTC.D breaks convincingly below 62%, the cryptocurrency remains in control. The altcoin market could soon be looking at its first real window of opportunity in months.