bitcoin dominance finally completed 5 wave up. Rsi broke its trend line and wave five of primary degree ended at 78.6% size wave 1 to the end of wave 3 and it is almost equal to wave 3 size.
bitcoin dominance is a great indicator for altcoins. regardless of what bitcoin will do altcoins will go up, it may be coincides with a bullish move in btc or a bearish move,...
SO found today this situation-
BTC.D HAD A HUGE RUN-UP ( OBVIOUS IF BTC ITSELF SPIKED UP FOR 6 MONTH )
EVERY RUNUP ASSET PROBABLY HAVE TO CHILL OR END OR FIND POINT TO RELOAD ( USUALLY IF IT NOT A SCAM)
AND THIS CHART DEFIANTLY SHOWING SIGNS OF COOLING ( VERY COOLING)
1- 109.22% UP FROM ATL
2- WEEKLY 9 SELL
3- 1-4 CANDLES CORRECTION ( 3RD IS SHOOTING STAR...
The sentiment on alt coins is almost as bad (possibly worse) than bitcoin at $6k, $3k. It's time for a new market cycle. I have been short term bearish on bitcoin since we interim topped at 14k, as i've mentioned i'm still expecting more downside for btc in the short term. I believe this next swing down will provide an opportunity for some alts to bottom in terms...
This is what i am looking, btc dominance could top around 75 and then rejected with a retrace below 70 around 62/65.
This will give alts some exposure.
If you're interest in my indicator "Lady BTC BOTTOM" check the link below:
On the weekly chart, we see a regular Bearish Divergence
On the daily chart, we see a pullback to the 20 (and up) or to be 50 EMA.
BTC dominance trend is still bullish, the main trend and hence go with the trend
Confluence with ALT coins recently either maintaining its range and in some cases breaking out of its downward wedge Macro...