Elliot Wave Analysis applied to BTC Market Cap Dominance.
Waves I and II have been completed. In my count Wave III has not completed its 5th leg up yet. If we get to the 1.618 fib extension of Wave I to II and market dominance level gets rejected at this point, we will probably enter Wave IV, which could lead all the way down to the green trendline. Playtime for...
BTC dominance macro-view:
Now we will close BELOW monthly MA resistance which is an incredibly bearish sign for bitcoin dominance and also we will close below the MAIN support line which now will switch it to be a strong strong strong resistance
MACD (momentum) still going down and hope to switch to the bearside to have a beauty altcoin season
Bear cross at...
