Bitcoin price may have just held and confirmed a critical bullish retest of $10,000 and “meme” downtrend resistance from all-time high. After such a bullish confirmation the leading cryptocurrency by market cap could soon soar.
And if it does, BTC dominance could be signaling that altcoins are going to bleed out and into Bitcoin in the months ahead. But it all hinges on one line holding, which if lost, could send the crypto market into a full-blown alt season instead.
BTCUSD Monthly Bullish Retest Holding Strong | Source: TradingView Bitcoin Holds Crucial Level, Will Capital Flow From Altcoins Into The Top Crypto?
The chart above paints a very clear picture: the onus is on bulls right now to hold Bitcoin price above two very important levels.