🔻BTC.D ,🔻USDT.D & 💹OTHERS.D (UPDATE)❓❕
HEY crypto community, what's going on today ❓❕‼️😉
since Jul 21 ,that I posted last update for BITCOIN dominance , OTHERS dominance and TETHER dominance , as I expected ,these indices has been slightly continuing previous trends !
Also as I told you guys , while the dominance of both BTC and tether decreased But others.d increased and at same time we an wait for more growth for altcoin , and we've seen that bitcoin and altcoins prices has slightly raised recently .
So in my opinion it means that at least a short-time Altcoin-party is still expected , .
when the bitcoin dominance is still significantly bigger than others . ( Usdt.d - Others.d - Eth.d..) BTC.D AND Bitcoin price is determinant for the next possible movement of crypto market !
technical point of view:
-bitcoin dominance(BTC.D) has recently lost a major Pivot zone and treding under POC lines(Power of Control) . so in this case if it not be able to return back soon above this pivot zone immediately . it can easily drop on the lower support line .
- also as I expected for Tether dominance(USDT.D) it has been declining til now, recently ceased at a dynamic support line , so may it has a rejection and can form a H&S pattern that can fall again in this case , but anyway if loses the current support it will easily fall on the lower support zone .
- Also for Others Dominance: as we see its already trading above a major pivot zone , and meanwhile BTC.D and UST.D is decreasing it can continue its uptrend and tests the higher resistance zone just if it be able to maintain the current pivot zone.
conclusion:
According to above chart , if the current scenarios for dominances continue , Whether bitcoin price goes more up or even goes sideway its a good situation to long altcoins. btw in this situation if bitcoin even goes down ,then altcoins can go sideway!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
since Jul 21 ,that I posted last update for BITCOIN dominance , OTHERS dominance and TETHER dominance , as I expected ,these indices has been slightly continuing previous trends !
Also as I told you guys , while the dominance of both BTC and tether decreased But others.d increased and at same time we an wait for more growth for altcoin , and we've seen that bitcoin and altcoins prices has slightly raised recently .
So in my opinion it means that at least a short-time Altcoin-party is still expected , .
when the bitcoin dominance is still significantly bigger than others . ( Usdt.d - Others.d - Eth.d..) BTC.D AND Bitcoin price is determinant for the next possible movement of crypto market !
technical point of view:
-bitcoin dominance(BTC.D) has recently lost a major Pivot zone and treding under POC lines(Power of Control) . so in this case if it not be able to return back soon above this pivot zone immediately . it can easily drop on the lower support line .
- also as I expected for Tether dominance(USDT.D) it has been declining til now, recently ceased at a dynamic support line , so may it has a rejection and can form a H&S pattern that can fall again in this case , but anyway if loses the current support it will easily fall on the lower support zone .
- Also for Others Dominance: as we see its already trading above a major pivot zone , and meanwhile BTC.D and UST.D is decreasing it can continue its uptrend and tests the higher resistance zone just if it be able to maintain the current pivot zone.
conclusion:
According to above chart , if the current scenarios for dominances continue , Whether bitcoin price goes more up or even goes sideway its a good situation to long altcoins. btw in this situation if bitcoin even goes down ,then altcoins can go sideway!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
.
Nothing especial has changed for 🔻BTC.D and can continue to decrease
more ,But It seems that people has been selling their altcoins recently ,
as I expected for 💹USDT.D it rebounced back to form a H&S pattern IMO ,
then I expect to fall again in this case , it means people swap usdt to
rebuy altcoins in lower prices . but if 🔻OTHERS.D loses the current support (POC) (or 13%) ,it will be a dangerous situation for altcoin, so I DONT recommend to hold altcoin in that scenario !