Batrachotoxin
Short

BTC dominance continues raising, when will it stop?

CRYPTOCAP:BTC.D   Market Cap BTC Dominance, % (CALCULATED BY TRADINGVIEW)
BTC dominance ( BTC .D) continues raising, when will it stop?

Base on a simple Fibonacci retracement draw, we can expect the (72 - 74%) values will be the top of this rise. There was a small difference (about 1-2%) between Tradingview and Coinmarketcap.com's calculation. So the relative values for coinmarketcap.com should be 70 to 72%. We are so close to the important turning point, which is a good fertilizer for the altcoin blooming season (as talked on the previous post).

There are 2 scenarios for the next move of BTC .D and BTC price, which are:
1) If BTC .D exits all patterns at the current values (around 70%), BTC will enter mid-term downtrend, but its price will keep less volatile.
2) If there have a massive pump or dump of BTC price, BTC .D will rise to 61.8% Fib. level. If BTC .D rejects that level, the altcoin will enter the blooming season, otherwise, the altcoin will bleed more and find a new bottom.

In my opinion, the 61.8% Fib. level always be a strong resistance that, will reject BTC .D to go further, there will have a good chance for altcoins to recover their losses by the last months.
Comment: BTC.D reaches the resistance zone. It can raise a little bit more to 74% (tradingview calculation), related to 72% on coinmarketcap.com.
Everything is going on the way, as analysis.
do u mean its good time to short btc ?
+1 Reply
Batrachotoxin 11_1_1_1_1_1_11
@11_1_1_1_1_1_11, we must wait for BTC to show more clear in its direction. Besides, BTC.D doesn't reach expecting target yet (74% on tradingview calculation).
+1 Reply
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