BTCD ANALYSIS / PREDICTION - RALLY vs ALT SZN
Important to keep an eye on Bitcoin Dominance. Alts have been doing great while it's trended lower, but now it's reached the bottom of a macro ascending triangle and looking for support.
I've outlined 2 possible scenarios.
One - BTCD rallies and continues to range in the pattern. Bullish for BTC, Bearish for Alts.
2. BTCD rolls over, and Altcoin season ensues.
Indicators on the 1D TF seem pretty bullish for BTC, at least in the short term, but we'll have to wait and see how it all plays out.
I don't think this bull run is over, but you have to shift focus from BTC to alts and vis-versa and keep an eye on BTCD and TOTAL2 market indices so you don't buy or sell at the wrong time.
happy trades
CD
I've outlined 2 possible scenarios.
One - BTCD rallies and continues to range in the pattern. Bullish for BTC, Bearish for Alts.
2. BTCD rolls over, and Altcoin season ensues.
Indicators on the 1D TF seem pretty bullish for BTC, at least in the short term, but we'll have to wait and see how it all plays out.
I don't think this bull run is over, but you have to shift focus from BTC to alts and vis-versa and keep an eye on BTCD and TOTAL2 market indices so you don't buy or sell at the wrong time.
happy trades
CD
Comment:
Forgot to mention - even if BTC/D pumps in the next week or two, it will still have to break resistance to avoid forming that bearish Head & Shoulders pattern I drew in prematurely. It's just an idea to be aware of.
