Since the beginning of May a large support which could be considered a bullflag on a higher timeframe has been forming
This will likely hodl and break out to the upside
I'm excited to see how much ETH will increase in relation to BTC dominance wise
hey traders, there is ETH's Dominance, we broke the resistance so, we need a close above 20.50 for 1D bar to get the green line and it will be the Alt's season!
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trade carefully guys and don't forget the risk management & take profits.
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A Gann Fan analysis
Using the downtrend we can plot two points of Gann (2/1) and (8/1) both can be seen to be support points for the price
The uptrend Gann fan shows continually hitting of the top (1/2) seeing this we can assume that pressure is building up at this resistance point, and the bullflag that has formed above the (8/1) Gann line will smash this...
Using this indicator we can view the "alligator" eating bearishly, heavily, on BTC.D which is a sign that more people are moving to ETH
We can also see the direct effect on ETH.D with the alligator indicator eating bullishly
These are monthly timeframes
In short, it looks bright for Ethereum and altcoins, while dominance for BTC is struggling
I am long ETH
