BTC.Dominance chart made an impulsive five-wave decline, which confirms a bearish reversal. Currently, it still appears to be completing wave “c” of an abc correction, which could be forming a potential wedge pattern before further weakness.

BTC.D 1H Chart

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As a result, after a five-wave rally on ETHBTC, which confirms a bullish reversal, it might also be finishing wave “c” of an abc flat correction, potentially finding support around the 0.034 area before another rally.

ETHBTC 1H Chart

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Overall, it seems that Ethereum and ALTcoins will continue to outperform Bitcoin, but a true ALTseason may only emerge if Bitcoin and the whole Crypto market experience a stronger recovery.

For a detailed view of the Crypto market and more analysis like this, you can watch below our latest recording of a live webinar streamed on October 20:

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