Bitcoin outbreak prevented by resistance to BTC dominance

The total market capitalization has so far not managed to break through the blue sideways trend channel at the daily closing price. The July 9 breakout attempt failed at the February high of $ 300 billion, and overall market capitalization subsequently fell below the $ 269 billion mark. However, as long as the overall market is above $ 257 billion, the chances of the trend channel top starting again at $ 281 billion outweigh.

Bullish scenario
The total market capitalization is currently still close to the moving averages EMA10 (yellow) and EMA20 (red). If the bulls break through the $ 269 billion mark dynamically, an increase towards the top of the trend channel at $ 281 billion is expected. If the altcoins can continue to perform strongly in the coming time and Bitcoin with its high dominance cannot break well below the $ 9,000 mark, the overall market should rise again in the direction of the resist zone at $ 305 billion. However, if the bitcoin also rises towards the $ 10,500 mark, a test of the pink horizontal resistance at $ 314 billion is also conceivable. As long as the altcoins remain bullish, an increase towards the maximum price target of $ 328 billion (78 Fibonacci retracement) is also to be planned in the medium term.