only a matter of time before Bitcoin Dominance ( BTC.D ) takes a nose dive IMO, which would mean #altcoins szn and #nfts szn.
$ETH merger could be the catalyst to get this started (mid-September).
sometime within the next year would be my prediction this happens.
1st target for #BTC.D would be down to ~20%.
Run it back CURBO
-@CryptoCurb
I think the days of just looking at BTC dominance are nearing its' end now that we have more stable (generally) crypto options to "cash out" to. Before USDT/USDC, bitcoin was the safest to cash out to. I calculated dominance of top 50 overall market cap stablecoins BUSD, USDC, USDT and DAI and then added BTC.D. This way we can paint a picture of overall market...
Bitcoin Dominance is currently at 43%. That means 43% of the entire crypto market capitalisation belongs to Bitcoin.
On the above 4-day chart two bear flags are shown. The 2nd bear flag is a fascinating fractal of the first. Using the numbers on chart:
1) Dominance rejects the upper Chanel for the 2nd time.
2) Dominance prints lower highs whilst trying to...
#Bitcoin Dominance Detailed Technical Analysis :-
$BTC dominance currently trading around 40.66%
Which is very Bottom area of dominance.
39.60% Level is Strong support level.
If Bounce from this Level then Best Strategy is Exit From Altcoins.
$BTC Pairs Will dump hard if Dominance Increased and If BTC pairs Dump then USDT pairs also Dump.
Now..?
I am exiting...
We never quite made it to the 1.5x target from our double top back in Jan 2021. That's not to say it's still possible we see it and even reach the 2X target making new ATLs.
However, I can see the possibility of a weaker low made near the top of the green support area, and that occurs and we turn back up from there, dominance may for a triple bottom (or an...
The 14-month consolidation period has ended; it was truly an endless period of price action, but nothing lasts forever!
ABCDE rectangle/triangle has been successfully finished and now we can finally continue in the direction of the main trend.
According to my Elliott Wave analysis, we are now in the 3rd wave and this could be huge!
Bitcoin Lightning network...
Pretty high TD count (8 - may still have margin) and a falling wedge running on long term trendline.
Moreover, close to historical strong support, just below the 40$ mark.
Given that, bias is towards bottoming and bounce towards 43-44 area at first.
Not excluding a further pullback to previous ascending channel.
That's tricky though, as further Ethereum merge...
Is the big drop, and possible final drop of this cycle here?
Big news via the inflation numbers today
Previously the FED after meeting suggested that the economy is recovering, and the tapering of funds is goign to slow down (ie more money to be printed)
I think that that is very deceitful, as:
Inflation is at 9.1%, and the fed rate is around 2%
People will get a...
Bitcoin Dominance chart approaching Key support and a Grand Test of the 40% Level, which is now support.
Just below it is our POTENTIAL Bull Run Entry.
Yes fellows,
when this price drops ALTS rise.
Don't get too excited too early, that's never good. We are close to support and we need to see how the price reacts then.
What happens at the Blue 'Bull Run Entry'...
The 14-month long consolidation is over, it was truly an endless price action, but nothing last forever.
ABCDE rectangle/triangle has been successfully finished and now we can finally continue in the direction of the main trend.
According to my analysis of Elliott waves, we are now in the 3rd wave and this can be huge!
Bitcoin Lightning network is still not...
Bitcoin dominance bounced from the 3h demand zone as predicted and we are currently seeing some retracement. I expect it to continue moving up and once it reclaims 41.4% then we would expect further bullish movements.
Bitcoin Dominance faced a major resistance at 48% level. Was already rejected from there. As you can see, this level has already twice acted as a starting point for altcoin season. I believe this one will not be an exception!
