Nick010
Long

BTC Dominance falling, potential to hit 51%?

CRYPTOCAP:BTC.D   Market Cap BTC Dominance, % (CALCULATED BY TRADINGVIEW)
After reaching a double top on both the price and the RSI on the monthly chart, the Bitcoin Dominance has declined sharply. This resulted in BTCD falling out of a rising wedge or descending channel , whichever way you want to look at it. Following this move, we are breaking the first monthly support at around 63.6. The next 2 monthly supports are at 58 and 51.5%.

Will we reach 51%?

After this, supports are in the lower 40 area.


What strengthens this trend shift is that it's accompanied by many bullish signs for the altcoin marketcap, such as a multi-year pattern breakout which could rise further from 108 billion to 225 billion in the coming months (Also, see my daily fractal
and monthly fractal
shared in early January.

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