Bitcoin Dominance Update:
• Bitcoin dominance is currently trading above 59% and is continuing to rise
• There is a high likelihood that BTC will retest the channel trend line (60.5% – 61%)
• As dominance increases, there is selling pressure on altcoins and there is currently no significant momentum in sight
• Keep a close eye on Bitcoin dominance; as soon as it starts to decline, altcoins may regain momentum
