While we didn't find the bounce from the TD 9, and therefore bounced later than expected, Bitcoin dominance is now back above the 50 Week MA.
As can be seen on the Daily chart using the TI Indicator, we are currently at the 50 Week MA on a Sequential 9. While the long-term 200 Week MA is sloping downwards (has a bearish posture), the 50 Week MA is rising (has a bullish posture). It's also clear from previous TD 9's, whether buy or sell signals, have been very reliable in calling short-term tops and bottoms. The RSI is also considerably oversold.
My previous outlook remains the same regarding re-test targets. BTC dominance is currently testing the 66% level - the bear flag breakdown level and VPVR resistance, as previously anticipated:
I'm still bearish on Bitcoin dominance long-term, but remaining neutral as dominance is likely to find short-term support from current levels. It'd be reasonable to believe that dominance will retest the bear flag breakdown level, VPVR resistance as well as 21 Day MA around 66%, or even as high as the 200 Day MA at 69% that is now started to slope downwards confirming long-term bearish pressure.
If dominance re-tests the downwards sloping 200 Day MA, following the
death cross that occurred, this would be a good opportunity for again longing altcoins based on the risk reward of 50 & 200 Day MA altcoin dominance "golden crosses".
Zooming into the chart, we have wicked upto the previous breakdown level. The vpvr does show a considerable gap in volume, therefore room to move upwards if the current resistance level can be broken. Note the Weekly would also need to close above the 50 Week to confirm a bullish bounce for Bitcoin dominance. Expect strong resistance around 67.5% point of control:
Regarding the original OP TA, the current pullback looks like another opportunity to enter to good risk reward trade, rather than getting stopped out for break even, Even if lower levels are to be expected:
For reference sake, the current pull back to the bull flag resistance & vpvr levels is partially the reason for cancelling this long trade, instead looking to target the 200 Day or Week MA: