While the Bitcoin price remains flat, its dominance has been rising for 5 months in the cryptocurrency market.
Bitcoin dominance, which has been on the rise since April 2019, reached June 2017 level. Bitcoin, which has increased its dominance in the market for 5 months, has never increased its dominance in this way in its history.
If Bitcoin continues to increase its dominance in in September, it will increase continuously for 6 months. Bitcoin showed a similar move in the opposite direction, by losing its dominance in the market. From March to August 2017, there was 6 month dominance decline.
In June 2019, the Ichimoku indicator also have given approval for the rise in dominance. We can see that 74.65% level is the resistance for rise and 67.05% level is the support.
In order for the Altcoin rally to start, Bitcoin dominance must fall below 67.05%.
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