2020 Dominance Channel BTC.D #btcdominance #bitcoin $BTC #crypto
CRYPTOCAP:BTC.D Market Cap BTC Dominance, % (CALCULATED BY TRADINGVIEW)
Here we see our Btc Dominance chart . As you can see we have been in the same regression channel for all of 2020 . That pink and blue box on the chart is a regression channel indicator. We are also about to hit a TD Sequential 9 in green ( that's those numbers you see on top of the candles . ) When we hit a number 9 in green on November 20th we then saw steep downward dumping happen and I expect the same will happen again . If this channel seems like it will be continuing into 2021 then we could see an altseason on the way when Bitcoin Dominance starts to go down .Also notice that is about to wick up to that red line - again there should be a turnaround there soon too.
Comment: As expected we just hit a TD Sequential 9 in green with our daily candle today . Also the rsi line has indeed wicked up to that red line. Some downturn should come at some point here.