SpartaBTC

Soon pump season altcoins? Head and shoulders. Inverted Dragon.

CRYPTOCAP:BTC.D   Market Cap BTC Dominance, % (CALCULATED BY TRADINGVIEW)
Bitcoin dominance chart by market capitalization. You probably noticed that over the past month, many violas went to growth by a large percentage. This can be seen in my trading ideas for some altcoins. Maybe it's not casual?

At the moment, we see that the dominance of bitcoin over other assets is still in an uptrend. % BTC dominance came very close to the uptrend line.

At the top of the uptrend, the "Head and Shoulders" figure has formed. Breaking the Neck line will mean a 9.3% decrease in dominance. And this is already below the line of the upward trend of BTC dominance. Perhaps we will see a change in the trend of bitcoin dominance in the market.

Breaking the uptrend line will mean that we will confirm the final formation of such a complex, long-forming and rare formation on the market as the “Inverted Dragon”. Which in turn can consist of many small figures.

Confirmation of this figur provides an understanding of the direction of the trend in price movement in the long term. At the moment, we already see all the components of this formation formed: the head of a dragon, the first paw of a dragon, the hump of a dragon, the second paw of a dragon. Everything is there, except for the “Dragon Tail”, which in turn is the target the figure.

But you need to remember that only a breakthrough of the uptrend line (Dragon Range) gives confirmation of the figure.

This will mark the beginning of a full-fledged pump season of long-suffering altcoins. Consequently, a new hype, the arrival of new people and new "stupid money" to the market.

 If we break the uptrend line and the percentage of Bitcoin dominance is fixed under it, this will mean the opening of a full pump of the altcoin season!

But we must not forget that if the uptrend is not breaking through and the dominance of bitcoin will increase, this will mean the death of most altcoins, except TOP.

But I am more inclined to believe that the uptrend line will break and the long-awaited season of pumping altcoins will begin.
Comment: You can read about the Inverted Dragon formation in this educational trading idea:
EDUCATION
Simultaneously Figures Inverted Dragon and Dragon
Comment:
Comment:
Comment: Everything is going according to plan.
An important zone of support for the dominance of the BTS has broken through. Altcoins begin to pump up. So far, only with a small capitalization.
Now there are 2 important levels of support shown in the idea, everything is decided from them
Comment:

Comments

The regular Btc.d chart appears bullish on the 1 day but let's see
Reply
SpartaBTC shimmeringpath
@shimmeringpath, everything is decided in the zone where the ascending trend line intersects.
Reply
SpartaBTC shimmeringpath
@shimmeringpath, while it looks bullish But sooner or later this line should break through.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out