Bitcoin Dominance - The King May Need a Break
While searching for BTC alt support, and since this market likes to move together, it makes sense for Bitcoin Domiance data to play as an excellent source of information. Therefore I decided to take a closer look and I noticed a familiar pattern.
From my experience, the 200% fib level is not a supper common area to find support or resistance, however looking at the fib levels I have placed above, it seems to be a common variable with Bitcoin Dominance.
Taking these levels into account, along with:
- 70% dominance area showing historical resistance
- Momentum divergence
- Volume exhaustion
- Near buyer exhaustion
I hope you all found this article interesting and maybe even a little helpful!
I wish you all the best of luck!
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