Bitcoin dominance #BTC is currently consolidating within an ascending channel pattern having recently rebounded from the support trendline. The 21 day moving average MA is also providing additional support suggesting that BTC.D may remain range bound for the time being. However a clear breakout above the upper boundary or a breakdown below the lower support trendline will be needed to confirm the next directional move for Bitcoin dominance. If BTC.D begins to trend lower while Bitcoin continues to hold steady or shows further bullish strength it could signal a shift in market dynamics potentially indicating the start of an altcoin bull run as capital flows out of Bitcoin and into other cryptocurrencies. Traders will be watching closely for any breakout or breakdown to gauge the strength of the upcoming trend.

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