BTC Dominance - BTC season back on the menu
BTC Dominance compressed in the blue apex and now we pushed higher, this indicates that BTC is ready for some new highs.
If you look at BTC price action, you will see we're getting close to 40k again and we may soon push towards a new ATH.
In terms of dominance, we seem likely to re-test the 72% resistance. Alts like DOT have done some fantastic runs these past few days, so we may have a situation where the whole market is growing fast, including alts.
It is hard to say now if BTC dominance will grow higher to 80%. Alts are keen to catch-up. So we have to wait to see how BTC reacts at around 70% and if the current support line holds.
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If you look at BTC price action, you will see we're getting close to 40k again and we may soon push towards a new ATH.
In terms of dominance, we seem likely to re-test the 72% resistance. Alts like DOT have done some fantastic runs these past few days, so we may have a situation where the whole market is growing fast, including alts.
It is hard to say now if BTC dominance will grow higher to 80%. Alts are keen to catch-up. So we have to wait to see how BTC reacts at around 70% and if the current support line holds.
Like and follow if you like this idea!
Comment:
Wops, we may have been wrong on this one, BTC Dominance breached support soon after exiting the triangle. Alts are pumping hard!
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