Top-tier analyst Rekt Capital, known for his astute observations on Twitter, recently shared his thoughts on Bitcoin's hegemony over the cryptocurrency market.
He noted that a particular red zone is where Bitcoin's dominance is currently being retested.
The well-known trader then tweeted an intriguing thought: What if Bitcoin's dominance is starting to take the shape of a Bull Flag? This technical pattern frequently predicts the possibility of an upward breakout.
The same pattern can be seen on Bitcoin’s H4 chart.
Price is testing a demand zone around 28000-27500. This is a confluence zone where Bitcoin tests the support of the pattern.