BTC DOMINANCE IS FORMING A WELL KNOWN WAVE PATTERN WITH A VERY HIGH PROBABLE VALIDITY, if this continue playing out btc will make a very strong up move maybe after hours from now
keep in mind that this dominance increase might happen because of a crash across the crypto market and alts will lose strength against btc (watch dxy and btcusd chart)
@muss3rwilliam, yes I think will drop more & give a pump to btc (could b wrong but more probably)
muss3rwilliam
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Looks to be a SMS on dominance so we may see a migration of alts to BTC. I am really looking for BTC to break to the upside of 50% to stabilize the market a little better though. If we can do that and push to the upside for BTC that would be very bullish for me and a eye opener due to the fact this would be the first time in Crypto history BTC has not followed the LOG rainbow and gone all the way to the historical floor before running a new market after a death cross. We are also looking at the market being way over due for a correction due to profit gained. If we can sustain some think 45k I think 42k or even 40k or even double bottom around 37k those would all be bullish plays for me. I am waiting on the retrace to re enter the market currently.
In 2018 a similar move happened for dominance and BTC still went to the floor. We will see how this plays out in the end but if the alt money leaves the market like it did then the whole market will crash just like it always does. I would not take an increase in dominance after a death cross as a definite up.
ZiltchX
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@muss3rwilliam, no objection but the structure gives me an up move more than a down one something big is coming next opening of the markets us index will be the most important chart to watch it could drop little aggressively. still a matter of proba anyway !
muss3rwilliam
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@hyacinth, Yes with inflation being a factor in economics this is honestly a coin toss but interesting none the less.
axelrodd
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@muss3rwilliam, in 2018 bitcoin didn't break 25 ma on the weekly or print a bullish MACD, that fear you put out there is going to hit you hard in October bro, shame
muss3rwilliam
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@axelrodd, Correct not all stars have to align all cycles are not the same but as far as death crosses go I see this as a Finite item that will always remain the same. I am simply providing insight. I also want to point out on the death cross side of BTC side we did in 2013. Please feel free to reach out with any other info I love hearing others insight it helps me improve on myself.
axelrodd
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@muss3rwilliam, hedge funds love to print those death crosses right before an explosive move up, it happens all too often, we're in the disbelief stage