CRYPTOWATCH // 09: BTC dominance about go sub 40%

With BTC finding calmer waters at the time of writing; alts are back on the rampage to new highs. This means that if BTC stays calm, the BTC dominance will fall below crucial support of 40%! Normally this would be bullish for alts and it is in the short term however if BTC will further dump because of more people jumping into alts; we will see another market wide correction. In that case the BTC.D would come back above 40% and possibly retest 50% if we are speaking about a severe correction.

If in the rare case BTC stays stable despite the bearish dominance, it will be a short party for alts for at least today or the coming days. I keep cautious for further corrections as BTC needs to hold 42 and preferably the dominance stays above 40% to keep things at ease in the market.

IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.

Comment:

WARNING: I think its quite likely that BTC will break below 42K today or tomorrow which is absolute bear market territory for Bitcoin! A move like that will rek the market...

Comment:

Like my last comment said; I bring all the bad news and hence dont get appreciated by many bag holders but I share this so you dont get rekt. Dont shoot the messenger that wants to help you... (Havent seen any "so called" top trader sharing these type of views... (now they will, I guess but the damage has been done, been warning for it for weeks now)