BTC Dominance today analysis, 190928. Needs another peak to fall
Hello, my friends. It's Cryptoranger K.
Do you remember the last bitcoin dominance analysis I posted? I said in that article that Bitcoin Dominance has already begun to fall. Of course I still stick to that opinion. But I think that a noticeable downside should wait a bit longer. The chart I showed you at the time was a three week chart. At that time, I expressed the MACD histogram with two arches as the beginning of the decline. But Stochastic and MACD didn't make the Golden Cross. I think the following three conditions are necessary for Bitcoin Dominance to show a full-scale decline.
1) A 3-week stochastic must make a Golden Cross.
2) Make 3-week MACD Golden Cross.
3) A 1-week candle will need to form two peaks over the next few weeks.
Do you remember the last bitcoin dominance analysis I posted? I said in that article that Bitcoin Dominance has already begun to fall. Of course I still stick to that opinion. But I think that a noticeable downside should wait a bit longer. The chart I showed you at the time was a three week chart. At that time, I expressed the MACD histogram with two arches as the beginning of the decline. But Stochastic and MACD didn't make the Golden Cross. I think the following three conditions are necessary for Bitcoin Dominance to show a full-scale decline.
1) A 3-week stochastic must make a Golden Cross.
2) Make 3-week MACD Golden Cross.
3) A 1-week candle will need to form two peaks over the next few weeks.
Comment:
Comment:
This is a Bitcoin 3-day chart. If you look at this chart, you can also see that the candle made two peaks. If you look closely, you can see that the price dropped through the 10day line rebounded from the 20day line. Since then, the candle has made another peak below the previous high. I think Bitcoin dominance should show a similar flow to show a real decline.
Comment:
Comment:
The chart you see is a 3 week chart. So first of all, considering the trend, the key is how far the candle will fall before making the second peak. Personally, I think it might be after 10 days in the chart that the candle is shown. In terms of the volume profile, there is a red arrow. At least we have to come down here and then bounce back to make a second peak. Only then can we see the noticeable drop we want.
'The market never easily returns to individual participants.'
This is the conclusion I have made after experiencing both the stock and coin markets over the last decade.
Excessive expectations for the rise always make us mistake in trading.
Today's analysis is up to here.
I sincerely hope that you will continue to protect and grow your assets. And I hope that my analysis will be of some help to you.
Thank you.
'The market never easily returns to individual participants.'
This is the conclusion I have made after experiencing both the stock and coin markets over the last decade.
Excessive expectations for the rise always make us mistake in trading.
Today's analysis is up to here.
I sincerely hope that you will continue to protect and grow your assets. And I hope that my analysis will be of some help to you.
Thank you.
Comment:
1) A 3-week stochastic must make a Golden Cross.
2) Make 3-week MACD Golden Cross.
->
1) A 3-week stochastic must make a dead cross.
2) Make 3-week MACD Dead Cross.
This is the correction.
There are some viewers. I'm sure you're confused.
There was a mistake.
I'm sorry.
Have a peaceful night then.:)
1) A 3-week stochastic must make a Golden Cross.
2) Make 3-week MACD Golden Cross.
->
1) A 3-week stochastic must make a dead cross.
2) Make 3-week MACD Dead Cross.
This is the correction.
There are some viewers. I'm sure you're confused.
There was a mistake.
I'm sorry.
Have a peaceful night then.:)