BTC DOMINANCE WEEKLY SHIFT.. a SIGN of upcoming Crypto PUMPS?!
I've been tracking btcdominance' weekly data and it looks like a major shift is starting to transpire.
Shorters seems to have found their peaks -- and altcoin bulls may take over anytime now.
Double top has been created -- and a strong order block resistance is being met with rejection.
Expect reversal to the downside from here on for BTCDOM (expect altcoins/overall crypto market to dominate the upside region again)
spotted at 1594 (target: extended downtrend)
-------------------------
On crypto market, a coin dominance is a ratio of its market cap to cumulative market cap of cryptocurrencies. It's a great way to see how big a coin is relative to the whole crypto market — the value of everything is in comparison. It's calculated by dividing a coin market cap by the overall market cap of the top 125 coins and then multiplying it by 100.
It's only when Bitcoin's dominance increases while Bitcoin's price is stable or when Bitcoin's dominance decreases, and its price also decreases that the prices of altcoins remain rather stable. When Bitcoin's dominance increases, altcoins usually lose market share and therefore value vis-à-vis Bitcoin.
Shorters seems to have found their peaks -- and altcoin bulls may take over anytime now.
Double top has been created -- and a strong order block resistance is being met with rejection.
Expect reversal to the downside from here on for BTCDOM (expect altcoins/overall crypto market to dominate the upside region again)
spotted at 1594 (target: extended downtrend)
-------------------------
On crypto market, a coin dominance is a ratio of its market cap to cumulative market cap of cryptocurrencies. It's a great way to see how big a coin is relative to the whole crypto market — the value of everything is in comparison. It's calculated by dividing a coin market cap by the overall market cap of the top 125 coins and then multiplying it by 100.
It's only when Bitcoin's dominance increases while Bitcoin's price is stable or when Bitcoin's dominance decreases, and its price also decreases that the prices of altcoins remain rather stable. When Bitcoin's dominance increases, altcoins usually lose market share and therefore value vis-à-vis Bitcoin.
Trade active:
BTCDOM will retest a reversal -- this time metrics are aligning.
Weekly bend on histogram (top indicator) is already hinting of that move.
Meaning, alt season is just around the corner.
TAYOR.
Weekly bend on histogram (top indicator) is already hinting of that move.
Meaning, alt season is just around the corner.
TAYOR.
Comment:
Downtrend on BTCDOM means, crypto market up.