Bitcoin dominance defined in January
Bitcoin dominance defines the market capitalization of BTC versus the total crypto market capitalization.
When the dominance of BTC goes up, it means that the price of BTC performs better than altcoins.
Otherwise, when it goes down, altcoins perform better.
According to vertical lines, January is a definition month.
The red lines indicate when there has been a decline in dominance, and the green lines when there has been a rise.
In the last month of January, we have an indication of a rise.
The question is whether in January 2023 dominance will continue to rise or decline.
When the dominance of BTC goes up, it means that the price of BTC performs better than altcoins.
Otherwise, when it goes down, altcoins perform better.
According to vertical lines, January is a definition month.
The red lines indicate when there has been a decline in dominance, and the green lines when there has been a rise.
In the last month of January, we have an indication of a rise.
The question is whether in January 2023 dominance will continue to rise or decline.
Comment:
On the daily chart we have a wedge with a divergence on the DMI.
Comment:
Dominance ready to break out of the bullish descending wedge:
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