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Gareth starts with the Bitcoin breakout and the second bull flag forming above it. He explains why the higher high still has him convinced the cycle low is in. Then he lays out two concerns. The first is a trend line drawn off the lows of the prior flag patterns, which pinpointed the recent top. The second is a sideways, choppy zone full of buyers who got crushed twice and are now close to break even.
The biggest signal comes from the Bitcoin dominance chart (BTC.D). Gareth covers three things:
1. what dominance actually measures
2. why it usually rises when Bitcoin dips a little and altcoins drop a lot
3. why its breakout above a long descending trend line, followed by a retest at the scene of the crime, points to another leg higher
He then runs the math. A 10% Bitcoin pullback puts price in the mid-$70,000s and could mean 30% to 40% drops in altcoins. A 20% pullback could cut altcoins in half.
Gareth closes with the level that matters most. A daily close below $81,000, the base plate, would signal that the bull flag is failing. He also shares that he is almost entirely in cash, holding one remaining Chainlink short with a break-even stop.
Chapters
0:00 Bitcoin Warning Signals For Altcoins
0:53 Gareth's Top Squad Membership
1:25 Bitcoin Breakout And The Second Bull Flag
2:08 Trend Line Off The Prior Flag Lows
2:33 Prior Bear Flags And The Overhead Chop Zone
3:43 What Bitcoin Dominance Really Measures
4:47 BTC.D Breakout And Scene Of The Crime Retest
5:59 Two Scenarios: Bitcoin Chops Or Pulls Back
6:29 Pullback Math: Altcoins Down 30% To 50%
7:24 Gareth's Positioning: Near Cash, Chainlink Short
8:07 The $81,000 Bull Flag Failure Trigger
8:41 Rumble Wallet Code
9:40 Wrap-Up
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#Bitcoin #BitcoinDominance #Altcoins #Crypto #GarethSoloway
Read More
By: Gareth Soloway
Title: Bitcoin Dominance Warning? Alts About To Collapse? Deep Dive Into Crypto
Sourced From: www.youtube.com/watch?v=HPrw2RZYLMA
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