BTC.D is trading in a bear pennant. As you can see we have fallen out of it sharply in the past, but we may be in for a more prolonged move towards 35% BTC.D.
However, we may also only see a sharp wick down to test levels such as 39-43% BTC.D, then a very sharp recovery towards 50%. This would mean Bitcoin has taken the lead in the market again.
Currently, the confidence in cryptocurrency overall is growing. As this confidence increases, I believe more money will shift into altcoins. As a BTC ETF has been released in the USA and Australia, confidence in the cryptocurrency market may soar.
This is a great % to be following to understand where money is moving in the market.
However, we may also only see a sharp wick down to test levels such as 39-43% BTC.D, then a very sharp recovery towards 50%. This would mean Bitcoin has taken the lead in the market again.
Currently, the confidence in cryptocurrency overall is growing. As this confidence increases, I believe more money will shift into altcoins. As a BTC ETF has been released in the USA and Australia, confidence in the cryptocurrency market may soar.
This is a great % to be following to understand where money is moving in the market.