Bitcoin Dominance is breaking out locally but we expect to be rejected on 150EMA and pennant/wedge upper-line. This is the true chart in percentage that can help us trading the Binance Futures Composite Index!
Current Percent= 48.35 Sell Entry = 49.00 - 50.00 Take Profit= 46.40 | 43.97 | 41.47 Stop Loss= 51.05
This is going as planned so far and I still expect some rejection at 50%
Trade closed: target reached
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TP1 reached with +31.30% (5x) and +2R
BitcoinDominance got rejected on top of the wedge then retraced and just broke-it down. Very nice profit if you shorted BTCDOM index on Binance Futures and/or jumped in Altcoins. Now sitting on 50MA & asc TL support, this is a bounce or fall for the dominance, prepare for action!