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...
Looks like there is a clear rejection off of the 535EMA which also has confluence with other resistance that took several days to break on the way down. I think this little bounce in the dominance chart is jist about done. I closed out my EOS short with a 3% profit. Now its time to look for some long set ups.
Might be time to short alts temporarily for a bounce. I dont know how hard its going to bounce or for how long but if we look at the weekly chart it is spectacularly bearish. God Speed Gents, Mr. Manbearpig
- Strong trendline broken - Possibly Possibly forming H & S
BTC has fallen from the Rising Wedge so I think it will cool down and re-test the 66% level in this turn
BTC Dominance is on a downtrend to 57.34%, down nearly 4%, expected to hit the bottom on 27 JUne, which is almost 10 days from now With this reduction, this is a great opportunity for Altcoin to increase strongly to 30-50%. Quickly buy Altcoins according to my signals so as not to miss this opportunity However, everything is possible, if BTC Dom returns to its...