BTC Dominance has never in it's Lifespan broken above the 200 Week EMA, and this time is no different.

There has been much speculation from various YouTubers that BTC Dominance will and must rise during this late stage bear market sell off. I am under the opinion that this is neither likely, nor is there any prior evidence to suggest otherwise.

In the lifespan of BTC it has never definitively broken above the 200 week EMA, and surprise, surprise it was again rejected by the 200 week EMA this time as well. There is the possibility for choppy movement where dominance tries to retest the upper resistance, but based on the RSI, we are well into over-bought territory and have broken back below the 70 RSI level, which has signaled a sustained sell off to the lower trend line, as shown below in the past cycle. I expect a further retest of the 200 week EMA in the subsequent weeks, and then an approximate 21% drop in BTC Dominance. There is nothing in the chart to suggest otherwise. So, despite many folks long call that BTC will rise to 60% dominance, I chose to remain impartial.

I also think given the strength ETH has shown this bear market, and the mass adoption it saw throughout this last cycle, I strongly suspect there will not be as nearly as wide a sell-off of ETH that we saw in the past bear market, which is absolutely essential for BTC dominance to rise above the 200 week EMA. I'm happy to be wrong, given I do hold BTC, but I don't think it's the likely scenario.

https://preview.redd.it/e4jdld0lwojb1.png?1546&format=png&auto=webp&s=4e7de948f2634a51492aab2a354c741a4de487c3