- Bitcoin price holds strong at $102,000 price range.
- Analyst believes the time has come for BTC Dominance to collapse.
- This collapse could usher in the peak of the altseason.
Reputed crypto analysts are putting their eyes to the charts to see what is next for the crypto market and especially for the pioneer crypto asset Bitcoin (BTC). In the last two weeks, Bitcoin went on to set a new ATH at $109,114.88 only to drop back to $98,000 before reclaiming its 6-digit prices again.
BTC Dominance Could Take a Fall
Presently, the price of Bitcoin is at $102,000 which many seasoned analysts believe to be a strong hold as Bitcoin seems to be moving in a slightly upward sideways movement as compared to its previous run. To elaborate, before the latest ATH, BTC price was moving between $90,000 and $101,000.
Now, this sideways movement has turned to a run between $101,000 to $109,000. The dip to the $98,000 price range however stuck a chord of panic and discord leading to a short phase of FUD. Despite this, seasoned analysts have remained heavily bullish on Bitcoin and the greater crypto market.
Altseason Peak on the Horizon
As for what is to come next for Bitcoin (BTC), the analyst in the post above shares a BTC Dominance update. As we can see from the image shared, the analyst highlights a Dead Cat Bounce pattern. He places the key resistance zone between 0.618-0.786 Fib and says that BTC Dominance is on the second likely final test before it is set to collapse leading to altseason peak.