A closely-followed crypto trader is laying out a bullish path ahead for Ethereum and altcoins.
The pseudonymous analyst known in the industry as Capo predicts that ETH’s breakout in its BTC pair will accelerate as Bitcoin’s dominance drops.
Capo notes that the Bitcoin dominance (BTC.D) chart, which is used to track the percentage of the crypto market share that Bitcoin is taking up, may be on the verge of losing a key area of support at 50%.
“Altseason. BTC.D reaching 50% is a key moment.
Break below = altseason continues.
Strong bounce = altseason paused
The point is, this support looks weak now. RSI (relative strength index) is going deep with no divergences and most altcoins look very good against BTC. Mega cycle on altcoins?”
Another key signal the trader utilizes to gauge whether a