BTC.D is about to dip – time for altcoins to shine?First of all, you should know that BTCDOM is a price index that shows Bitcoin’s market volume performance compared to altcoins. This index indicates how much market money is moving toward Bitcoin relative to other cryptocurrencies and can be useful for traders.
What is the difference between BTCDOM and BTC.D?
BTC.D: The traditional Bitcoin dominance index, showing the ratio of BTC’s market value to the total crypto market value as a percentage.
BTCDOM: A version of dominance available on Binance as a tradable instrument (futures), usually showing Bitcoin dominance relative to the top 20 altcoins (not the entire market).
The BTCDOM symbol has formed a price range, with the top of this range acting as a liquidity pool that was hunted. Now, the price is forming a double top pattern.
The trendlines have also been broken. It is expected to move soon toward the two targets marked on the chart, which could trigger a rally in altcoins.
If a daily candle closes above the invalidation level, this analysis will be invalidated.
If you have a coin or altcoin you want analyzed, first hit the like button and then comment its name so I can review it for you.
This is not a trade setup, as it has no precise stop-loss, stop, or target. I do not publish my trade setups here.
