we have Fibonacci channel midline resistance (44.50%) and 0.236 support area of channel.
I think we can reach the midline. the we should wait and see if it can break that or not for feature trades.
be aware: this is not a financial advice.
It looks like Dominance has broken all the hearts that believed in a huge alts rally!
Bitcoin Dominance (Tradingview) bounced from near the 40% area and it is expected to continue with bullishness, that too with Inflation data release waiting up tomorrow.!
Entry : 1326
Target : 1473 (0.5 of Fibo)
Stop : 1243 (Current day candle low)
Total no. of Analysis :...
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Based on my analysis, i think that it is better to be super attentive on Altcoins.
1- Dominance is in a very sensitive zone, 39.8% is a strong support
2- If it bounces above this support, the Alts will bleed
3- If it bounces below it, the Alts will continue to rise.
BUT,
The dominance had been decreasing for more than 40 days , and most of the Alts went crazy....
