Today, we are witnessing a long downtrend in the crypto market. BTC price approached the key trend level. Indicators will show us that the market is overbought, and I think that a market reversal is fully possible.
Price is 39k USD for now, if this continues we might see whether the 30k support levels are well though of.
At the same time, the BTC dominance on the bottom.
It does not indicate anything other than what you read. BTC "dominance" is a wrong term to use anyway even though some aggregators keep on using it.
And the alt indicator of the season will show its greater probability.
Like some foretold prophecy? Sadly, I have heard the same rhetoric before and it does not end well. Because bitcoin price is lower than the month's average it does not indicate that altcoins are going to be good for the rest of this month. They will bleed out and then wait till bitcoin rises again.
What do you think about this, is it possible to start the alt season and what altcoins can surprise us? Personally, I think that these will be altcoins that showed growth during the downtrend:- snip -
That surprise you are waiting for, people have been waiting for the same since several years now. The term alt-season itself is of wrong use, a neologism that carries no value. If you want to buy altcoins, buy it. But whether you will see them grow huge in price, the answer is usually a very guarded one.