BTC DOMINANCE Update (4H)

Aug 24

This analysis is an update of the analysis you see in the "Related publications" section

As expected from the previous analysis, we anticipated a drop in this index, and the drop is currently in progress.

One important point to note is the green zone, which is a strong support area. It is possible that the diametric/symmetrical structure we discussed in earlier analyses is still intact. In that case, wave F of this diametric pattern may complete in the green zone, and candles could then enter wave G | a bullish wave that may trigger a significant correction in altcoins.

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When we reach the first target, save some profit and then change the stop to entry
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Sep 23

Trade active

It was supported from the green zone and seems likely to move up toward one of the two red lines, which may increase selling pressure on altcoins. A rejection could occur from either of the marked red lines.

2 days ago

Trade closed: target reached

Eventually, the Bitcoin dominance wave G was hit, and strong pressure was exerted on the altcoins.