BTC.D is the dominance that bitcoins market cap is over all crypto market cap.
It can be confusing, as BTC.D will increase when Bitcoin runs and the rest of the crypto market stays the same, As well as when there is fear and doubt in the market - people will run to safety - which will make people sell alt coins and buy bitcoin - making BTC.D increase even while Bitcoin is losing BTC value.
On the other side however,
When bitcoin increases in value - people take profits from bitcoin - either into a stable coin or to place into alt coins.
It is at this magical stage of the market, where alt coins do their massive returns.
Historical analysis
The red lines are the point on the RSI where the RSI has moved below the MA and been rejected. As people who read my posts know that this is my favorite signal in trading.
The March 21 Bull Market (the left red line) Took Eth from $1432 to $4852 in the 2021 altseason.
Note at this point, Bitcoin was trading at $57k when this started
The next red line is July 2022.
BTC.D lost the support, while confirming a bearish trend on the RSI.
This lead to a 100% return on Eth
Current analysis
BTC is on a rampage, there is an ETF about to be announced, and the halving is around the corner.
The time has come for believers in bitcoin to realize that the risk of NOT owning bitcoin far outweighs the risk of owning bitcoin.
This can be seen by the up only mentality, with minimal paybacks.
This could see a likely top for BTC.d at around 58.1% as tgus was a big pivot point in the past.
Currently, the candle wick week shows that there has been a hard rejection above the 50% level of the channel (the blue dotted line), making a lower high on the chart.
Possibly, we could see alt coins start their rally now - however the RSI MA is currently curved up - showing bullish momentum on BTC.D.
If we close this candle however, there will be strong bearish divergence and this could really start the alt coin ralley.
My official call for alt season are:
A break and close below the yellow trendline +
The RSI confirming the downward move on the MA (possible Feb-March)
It can be confusing, as BTC.D will increase when Bitcoin runs and the rest of the crypto market stays the same, As well as when there is fear and doubt in the market - people will run to safety - which will make people sell alt coins and buy bitcoin - making BTC.D increase even while Bitcoin is losing BTC value.
On the other side however,
When bitcoin increases in value - people take profits from bitcoin - either into a stable coin or to place into alt coins.
It is at this magical stage of the market, where alt coins do their massive returns.
Historical analysis
The red lines are the point on the RSI where the RSI has moved below the MA and been rejected. As people who read my posts know that this is my favorite signal in trading.
The March 21 Bull Market (the left red line) Took Eth from $1432 to $4852 in the 2021 altseason.
Note at this point, Bitcoin was trading at $57k when this started
The next red line is July 2022.
BTC.D lost the support, while confirming a bearish trend on the RSI.
This lead to a 100% return on Eth
Current analysis
BTC is on a rampage, there is an ETF about to be announced, and the halving is around the corner.
The time has come for believers in bitcoin to realize that the risk of NOT owning bitcoin far outweighs the risk of owning bitcoin.
This can be seen by the up only mentality, with minimal paybacks.
This could see a likely top for BTC.d at around 58.1% as tgus was a big pivot point in the past.
Currently, the candle wick week shows that there has been a hard rejection above the 50% level of the channel (the blue dotted line), making a lower high on the chart.
Possibly, we could see alt coins start their rally now - however the RSI MA is currently curved up - showing bullish momentum on BTC.D.
If we close this candle however, there will be strong bearish divergence and this could really start the alt coin ralley.
My official call for alt season are:
A break and close below the yellow trendline +
The RSI confirming the downward move on the MA (possible Feb-March)