#BTC
Break-out in play for BTC dominance.
When comibined with yesterdays flash dump this is a bullish sign. The sudden price fall looks to have unlocked capital triggering large buy orders pumping price back into range and above the 200MA.
This positioning looks to be in advance of an expected bullish reaction to the highly probable interest rate pause which is expected to be announced tomorrow.
The last time we saw a dominance breakout back on June 9th it preceded a significant pump in price (June 15th - 25%). Back in June the impulse was short lived with price falling into a downtrend and giving up the progress made, we'd need to see BTC find higher support structures like flipping the resistance at $31.5k to support to prevent a breakdown. A lower rate environment should help this.
Wallet addresses are also spiking in BTC (hinting at bulish sentiment) with 700k addresses added Saturday 9th, the second most after 14th Dec 2017 where 800k added.
Break-out in play for BTC dominance.
When comibined with yesterdays flash dump this is a bullish sign. The sudden price fall looks to have unlocked capital triggering large buy orders pumping price back into range and above the 200MA.
This positioning looks to be in advance of an expected bullish reaction to the highly probable interest rate pause which is expected to be announced tomorrow.
The last time we saw a dominance breakout back on June 9th it preceded a significant pump in price (June 15th - 25%). Back in June the impulse was short lived with price falling into a downtrend and giving up the progress made, we'd need to see BTC find higher support structures like flipping the resistance at $31.5k to support to prevent a breakdown. A lower rate environment should help this.
Wallet addresses are also spiking in BTC (hinting at bulish sentiment) with 700k addresses added Saturday 9th, the second most after 14th Dec 2017 where 800k added.