BTC Dominance is trading below the horizontal supply zone of the ascending triangle pattern and is currently moving within the Ichimoku cloud, indicating indecision in the market.
A rejection from the supply zone could trigger further downside in Bitcoin Dominance, potentially supporting a bullish move across altcoins.
On the other hand, a solid breakout above the supply zone could invalidate the bearish scenario and trigger further upside in BTC Dominance.
Given its strong correlation with crypto, the S&P’s next move will be key in shaping overall risk sentiment.