This is extended update for previous idea made approx. year ago in Jan 11 2020
I think that wave A-B as well as smaller x-w-y-x as previous expected by E-W rules has played out and we are sitting on 61.8% of BTC.D at time of writing This is very important zone to watch (White line+arrow aims to our current place) BTC should bounce or keep dumping towards wave C and z
also I realized that if this Head & Shoulder formation (Blue lines and triangles) plays out there is possibility that BTC.D might revisit psychological 50% or even go lower
What supports this idea deep further is exactly the opposite pattern formation from the % side of others cryptocurrencies dominance
MAs as well as increasing volume also shows huge altcoins interes and TOTAL2 (Total cryptomarket cap exclude BTC) is on huge grow
Hope you like this Bitcoins dominance (BTC.D) mid-long term deep analysis. If YES feel free to leave the feedback below the chart in the comments. and if NO still feel free to give me a kick so I can make next chart more pleasable to understand and read for everyone from newbie to more skilled traders and still bring usefull info to multiple people of different skill levels
ChaChain ------------- Disclaimer: I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
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