Bitcoin is still a very weak asset, compared to altcoins or the stock market index. As per my technical analysis, bitcoin's dominance should go down to the previous swing low established in 2018. You can bet there will be a bounce, but the question is, how big is the bounce going to be? As you can see on the chart, the ABCDE pattern has been completed, which...
#Bitcoin (Update) Here is a daily timeframe analysis with price in a rising wedge. As shown here, price is at the tip of the wedge. A breakout which can be an upward or downward breakout is needed. I expect Bitcoin to break downward for the last dive to $20,000 before the move upward to $37,000. Aside this post, Bitcoin is overall bullish. Not a financial...
We never quite made it to the 1.5x target from our double top back in Jan 2021. That's not to say it's still possible we see it and even reach the 2X target making new ATLs. However, I can see the possibility of a weaker low made near the top of the green support area, and that occurs and we turn back up from there, dominance may for a triple bottom (or an...
Bitcoin Dominance chart approaching Key support and a Grand Test of the 40% Level, which is now support. Just below it is our POTENTIAL Bull Run Entry. Yes fellows, when this price drops ALTS rise. Don't get too excited too early, that's never good. We are close to support and we need to see how the price reacts then. What happens at the Blue 'Bull Run Entry'...
BTC/USDT Entry Range: $24300 - 24800 Price Target 1: $26700 Price Target 2: $27760 Price Target 3: $29810 Stop Loss: $21750
The 14-month consolidation period has ended; it was truly an endless period of price action, but nothing lasts forever! ABCDE rectangle/triangle has been successfully finished and now we can finally continue in the direction of the main trend. According to my Elliott Wave analysis, we are now in the 3rd wave and this could be huge! Bitcoin Lightning network...
As a rule ETH dominance (yellow) seems to always drop as BTC dominance (red) rises This is evident on chart
#BTCD Bitcoin Dominance Dominance broke down from ascending support that is the same with support zone and confirmed them as resistance. so now can continue its down trend to support zone around 41% and lower. as it is a weekly time frame, so $BTC price (based on this view) can continue its bullish move to $27k and $29k in next weeks.
The 14-month long consolidation is over, it was truly an endless price action, but nothing last forever. ABCDE rectangle/triangle has been successfully finished and now we can finally continue in the direction of the main trend. According to my analysis of Elliott waves, we are now in the 3rd wave and this can be huge! Bitcoin Lightning network is still not...
#BTC.D #Bitcoin #Dominance Dominance of bitcoin shaped broadening wedge in weekly and daily time frame, and it's near the lower line of wedge. so if it hold this line that is the same with support zone we can see a huge pump to long term resistance zone. in this scenario bitcoin price will continue to drop.
The Bitcoin Dominance Index (BTC.D) chart is trading within an ascending channel. It feels strange, this chart. Putting together all the data we've been collecting in the past few months, I can't make anypredictions here but, we can focus on reading the chart. > The ascending channel is bullish. > The fact that BTC.D is trading above MA200 is also bullish. > We...
We have a giant cup pattern on the Bitcoin Dominance (BTC.D) index chart. This pattern can lead to higher prices. Notice that even though BTC.D is trading near support, the RSI is sitting above 51, really strong. Expect this index to rise in the weeks to come. We stay bullish above 39%, long-term. The targets are mapped on the chart. Namaste.
BTC.D facing the resistance area. For me I am seeing it's forming triple top. If its go down hoping bullish signs for alts. BTC dominance going down meaning people are not interested to buy bitcoin now.
- As per my Elliott wave technical analysis on the weekly chart - we can expect a retracement (ABC) in the immidiate short term. - But in the long term bitcoin dominance should go down and make a new lows. - We have a descending triangle , which is a bearish pattern (on the weekly chart). - If you are an Elliott wave trader, please submit your analysis below,...
This is an offer overlooked metric. The symbol BTC.D which represents the percentage of Market Cap BTC Dominance can be a reliable indicator for Bitcoin's (BTCUSD) long-term moves on a Cycle scale. As this chart on the 1D time-frame shows, during the previous Bitcoin Cycle (pane below displayed in orange), the rally coincided with the BTC.D breaking above its 1W...
Hello Traders! Since last May, bitcoin dominance has been moving within a wide range of sideways movement between 39.30-48.00%. In the May-June sell-off wave, the dominance value tested the 48.00% level, followed by an impulse correction. Most of the altcoins showed growth from their local minimums within 40-50%. If the selling pressure on the market continues,...
i do not put the sl too close or it is likely to hit it. price go up first then continue down
these are the two possible short term scenarios we have for TRIAS, 1. We have completed the correction, the bottom is in and it is time for a reversal, these would mean we break out of the channel and start a 5 wave impulse up, the first levels at around $4. 2. If we do not breakout from this channel right now and start to see more downside, then we MUST put...