BITCOIN DOMINANCE giving us the right rally signal

This is an offer overlooked metric. The symbol BTC.D which represents the percentage of Market Cap BTC Dominance can be a reliable indicator for Bitcoin's (BTCUSD) long-term moves on a Cycle scale.

As this chart on the 1D time-frame shows, during the previous Bitcoin Cycle (pane below displayed in orange), the rally coincided with the BTC.D breaking above its 1W MA100 (red trend-line). On June 12 BTC.D approached it but fell sharply again below the 1D MA50 (blue trend-line), finding Support on the 1D MA200 (orange trend-line).

Right now the price is attempting another rebound, compared to late 2018 we can be anywhere within October - early December 2018, meaning that such volatility may be indicative of one last bottom before entering the new Bull Cycle. Regardless of that, crypto investors with patience in their mind can wait for the right opportunity to buy when the Bitcoin Dominance closes a week above the 1W MA100.


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