🤔 Bitcoin Dominance... Interesting. (BTC.D)
💰 LET'S GET INTO SOME BITCOIN DOMINANCE ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🤷♂️ Neutral
- 3day Chart
- Red Candle
- 3/3 EMA DOTS Red
We are red across the board on bitcoin dominance but I will tell you why I'm in a neutral standpoint as of now. Currently we reside on a multilevel support as this is the 3rd test for upward support. That is a good sign if we can close green off support to push btc dominance back up. The ultimate test will be the squeeze to enter a breakout phase in the contraction point where the green arrow is represented. A break below support would be extremely bearish on btc dominance and a break above would be bullish on btc dominance. We do not have any green confirmation yet on the ema dots or the Crossover strategy but notice on the bottom that we do sit in a historical level of oversold territory. This kind of gives me mixed emotions on where altcoins go next as we continue to sit in the range. Remember we look to buy when everything confirms green then followed by a breakout for a very strong confirmation. A break below will be good for alts. Will be interesting to see how the dominance of bitcoin plays out. This post is in reference for alt season.
Best of luck to you and all of your trades this week! 🤜
Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤
Thanks for checking out our analysis! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🤷♂️ Neutral
- 3day Chart
- Red Candle
- 3/3 EMA DOTS Red
We are red across the board on bitcoin dominance but I will tell you why I'm in a neutral standpoint as of now. Currently we reside on a multilevel support as this is the 3rd test for upward support. That is a good sign if we can close green off support to push btc dominance back up. The ultimate test will be the squeeze to enter a breakout phase in the contraction point where the green arrow is represented. A break below support would be extremely bearish on btc dominance and a break above would be bullish on btc dominance. We do not have any green confirmation yet on the ema dots or the Crossover strategy but notice on the bottom that we do sit in a historical level of oversold territory. This kind of gives me mixed emotions on where altcoins go next as we continue to sit in the range. Remember we look to buy when everything confirms green then followed by a breakout for a very strong confirmation. A break below will be good for alts. Will be interesting to see how the dominance of bitcoin plays out. This post is in reference for alt season.
Best of luck to you and all of your trades this week! 🤜
Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤
Thanks for checking out our analysis! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
