We have two pattern that confirms that bearish breakout is just round the corner.
I think we will see a correction down to around 60-55% market dominance.
In 1-3 month we could see a bullish cross between MA200 and MA100.
+ Volume is significant higher then before (new money flows in to crypto space)
+ Time left to halving 175 days (25 weeks)
+ MA200 is flattening, moving towards bullish cross
In my opinion, we are still in accumulation phase and the start of the next phase (advancing) will start for real after halving.
With this significant higher volumes in accumulation phase, demand for BTC will be like never before after halving.
I believe the dominance can reach up to 85%-90%, and people holding Bitcoin will not be so interested of selling it in near future after halving.
The advancing phase I believe will attract further new money into crypto space and fuel the price to new all time highs.
Short term, 1-3 months: Bearish
Long term, 2-12 months: Bullish
I think we will see a correction down to around 60-55% market dominance.
In 1-3 month we could see a bullish cross between MA200 and MA100.
+ Volume is significant higher then before (new money flows in to crypto space)
+ Time left to halving 175 days (25 weeks)
+ MA200 is flattening, moving towards bullish cross
In my opinion, we are still in accumulation phase and the start of the next phase (advancing) will start for real after halving.
With this significant higher volumes in accumulation phase, demand for BTC will be like never before after halving.
I believe the dominance can reach up to 85%-90%, and people holding Bitcoin will not be so interested of selling it in near future after halving.
The advancing phase I believe will attract further new money into crypto space and fuel the price to new all time highs.
Short term, 1-3 months: Bearish
Long term, 2-12 months: Bullish