BTC Dominance extended time at the bottom of the channel.
BTC Dominance has a big influence on how ALTS perform in general and most ALTS will dump when dominance increases ( logical since BTC takes a bigger part of the marked ) and some are actually quite confluent with BTC like lately ETH which has almost mirrored BTC in the last months.
BTC Dominance has been crawling up the bottom of the channel now for about 30% longer then the last time it tested the bottom and this could go both ways, no clear signs in any direction at the moment. But it is important to keep this in mind as this can influence a lot of other trading setups BTC vs ALTS vs BTC that might be correct by themselves but once dominance takes off in either direction might get stopped out.
If it breaks the channel down, many ALTS will pump, and if it continues the channel to retest the top my advice is, concentrate your effort towards the big two BTC and EHT unless you're shorting.
If you like my ideas and the work I do, please check out the links in the signature and give me a like ;).
BTC Dominance has been crawling up the bottom of the channel now for about 30% longer then the last time it tested the bottom and this could go both ways, no clear signs in any direction at the moment. But it is important to keep this in mind as this can influence a lot of other trading setups BTC vs ALTS vs BTC that might be correct by themselves but once dominance takes off in either direction might get stopped out.
If it breaks the channel down, many ALTS will pump, and if it continues the channel to retest the top my advice is, concentrate your effort towards the big two BTC and EHT unless you're shorting.
If you like my ideas and the work I do, please check out the links in the signature and give me a like ;).
