Looks like ready to test Bitcoin Dominance level on September 2018. Volume much more bigger than december 2017 which is very bullish looks.. although, a potential bearish divergence already sighted.
just hypothetical and fun thought, i just put a timeline with a same day from a peak of dominance day right before it's fall down compare with xrp and ethereum rise which indicate many alt rising in satoshi value/alt season..
BTC/DOMINANCE XRP/BTC ETH/BTC
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
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Just a short update... as for now BTC dominance from tradingview is around 58.6 % for all crypto market cap while i write this post.. there's a support around 57 % and if it fall below that level.. i expect a altcoin party will be started.
currently that i see for now it's a bearish divergence is in play.. as long btc dominance stay above 57 % in order to continue it's journey toward 60%...
Looking it closely.. looks like a Hanging man candlestick is appearing in the chart..
if the current candlestick stay like that until the candle closes and the more lower next candle forming.. it's look more bearish in my opinion for btc dominance.
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.