#BTCD Bitcoin Dominance broke out descending resistance as I expected and probably it can rise more to resistance zone. this rise of dominance can cause drop in price of #BTC. but also BTC price is at strong support that can hold it. lets see what will happen in coming days.
Everyone always thinks when BTC.D goes up, alts go down & vice versa, but it is a bit more nuanced than that. When BTC.D increases & BTC increases alts go down but when BTC.D increases & BTC decreases, alts go down even faster. So if that ends up happening & the rise in dominance occurs while the BTC price is dropping, look out for your alts cuz they will hurt a bit harder.
thanks for sharing
parissap
⋅
@Crypto-Fury, yes you are right, it is not exactly this thing that when one is in ride the other one has to drop, but it is most of the times so we just have to be cautious right!! and I shared something about relation between BTC.D BTC and ALTs that can help (Instagram)
parissap
⋅
@Crypto-Fury, also thanks a lot for your comment keep share your thoughts 👌🏼
When BTC.D increases & BTC increases alts go down
but when BTC.D increases & BTC decreases, alts go down even faster.
So if that ends up happening & the rise in dominance occurs while the BTC price is dropping, look out for your alts cuz they will hurt a bit harder.
thanks for sharing