Welcome to this quick update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures.
Let's get straight to the chart.
It's been a while since I posted this chart on BTC.D,
BITCOIN Dominance is currently facing the triangular...
There is a seasonality to the Crypto space. It comes in waves led by the leader and King BTC. There is no question many projects and exciting coins coming into this space but until the market cap of Bitcoin has been dethroned, Bitcoin exists as the the KING. Many Alt coins have had 5-6 months in the sun and this chart points that their cycle may be coming to an...
BTC dominance has currently broken through the very strong historic support level! If we see a daily close tonight below this aprx 50% level we will see altcoins surge more than we already are! If we don't see the close tonight i believe the time is coming and it'll happen soon, we could see a 35% BTC dominance eventually around the peak of this altseason! Looking...
Bearish ascending wedge on BTC.D. This formation may lead to fresh highs for alt coins. Also included a diagram of a bearish ascending wedge for anyone learning chart patterns.
Sorry, Guys! I was busy, that is why I was unable to post any analysis.
Okay, Today's Analysis are very very very IMPORTANT, as it dictates the crypto market.
Bitcoin is the mother of all cryptos, if it moves, let's move accordingly.
First, let me give you the concept:
CONCEPT:
When the dominance of Bitcoin increases, the dominance of Altcoins decreases having...
The macd indicator has produced a hidden bullish divergence, producing lower lows while price produces higher lows. This could lead to an 'altcoin purge' if this hidden divergence holds and dominance is pushed high enough. Do your research!
A bullflag has formed on bitcoin dominance it has formed between an EMA level and a MA level, which looks quite satisfying. A breakout of this flag would push dominance up to roughly ~68% at the purply grey EMA level. Personally i think bitcoin dominance will eventually < over time, as alt coin projects gain public attention and get off the ground.
Bitcoin market dominance has just broke long term (2yrs) channel and waiting till next week for confirmation.
Overall every chart is waiting for fuel.
Good Days are ahead.
RSI is seen to be rising, with one more spike until it enters ovebought area, this may influence price and cause one more leg up before alt dominance begins to rise. Can to be seen to have formed a rising wedge.
The Market Cap BTC Dominance has hit the resistance at 72.83 which is not broken since July 2017 and likely to fail in breaking out.
Volume profile since july 2017 upto now is showing less interest of traders at resistance level.
The RSI is overbought.
Stochastic has given bear cross from overbought zone.
MACD turned strong bearish.
Lagging span of ichimoku cloud...
Yet its unclear whether BTC will take over most coins and go back to 80% or higher dominance. But fundamentally it just seems pretty unlikely. This week/month closing price should play very important role in further price development. And I'd expect some nice spice to be produced, before/if reversing to the downside.
