Bitcoin Dominance is at an interesting point right now. After going as low as 57.17% in September, it had 7 consecutive green weekly closes. This week, it re-tested higher (briefly as high as 61.5%) but is now below 60%.

There are two important things to note here:

1⃣ It is a bearish re-test of the HTF ascending trend that was broken back in August.
2⃣ It is a bearish re-test of the Fib level at 60.34% and the first red after 7 green weekly candles.

When we zoom in, it looks even more interesting. It is now in the verge of breaking below the ascending trend that started in September.

It may be early to get excited about altcoins, however, the chart is looking very very interesting.

I advise you to look at this chart in combination with my last 3 HTF posts:

1⃣ My pinned post about the 50W SMA
2⃣ The post about the Death Cross
3⃣ The post about #BTC Dominance