Chart of the Day Here Comes Altcoin Season

Technical charts suggest a potential shift from Bitcoin to alternative cryptocurrencies (altcoins) may be imminent. One chart shows Bitcoin dominance, relative to the entire crypto market, is in a symmetrical triangle pattern since 2018 and was recently rejected at the upper resistance line. A break down from this pattern could mean investors moving money from Bitcoin into altcoins. Another chart shows the total market capitalization of altcoins forming an ascending triangle pattern, spanning three years, with a potential breakout that could lead to a significant increase in altcoin values. These setups indicate that altcoins may be poised for substantial growth if these chart patterns play out as they have in the past.