Truly a man sees what he wants to see. Yes, we want the altcoins come back. But the altcoin market is still in a downtrend. Attaching great importance to TA in such conditions can be harmful.
Agreed, the altcoin market is still in a downtrend. At no point in this analysis was I suggesting the altcoin market would rise, only that the market dominance would.
I've also updated the OP with analysis of Altcoin dominance (1-BTC.D+99) from a few weeks ago which is playing out nicely for anyone interested.
For reference sake this is the BTC.D chart "upside down".
Altcoin Dominance Bouncing From 0.382 Fib Retracement (18/09)
Source" Trading View, September 18th 2019. Screenshot: October 8th 2019
Source" Trading View, September 18th 2019. Screenshot: October 8th 2019
Bouncing from 0.382 fib retracement, altcoin dominance has broken above the 200 Week MA (29.65%), RSI now left oversold conditions and MACD about to bull cross. "ALT.D" ( 1-BTC .D+99) needs to close the weekly above the 200 MA to remain bullish , but otherwise the risk/reward is there for a trade to the 0.5 fib retracement (49.95%) and resistance level . This would be a trade on the monthly scale on the left with the price bouncing back from the 50 MA to the 20 Month MA (*).
(*) Correction included