On the 9 daily chart we are seeing an obvious weakness on BTC Dominance.
Let's cut the crap : Over 80% of you don't know what to do when you see a chart like this.
In simple English ; It means ALTS are showing strength to perform better than BTC right now. So if you want to make more money sell your BTC and buy ALTS.
Back to the smart ones who can interpret...
BTC.D broke through 47% resistance but could not confirm
BTC then broke down through previous support
Possible Cup and Handle pattern starting to form
Bitcoin resting down in shorter term
Weeks/Months out, this could be extremely bullish for hodl'ers
Could indicate 80-100 by year end
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Welcome to this quick update on Bitcoin dominance. In my previous update of Bitcoin dominance I clearly mentioned that we may see a bounce up to 47-48 levels and then we see a rejection and I also told you that do not trade in Alts/BTC pair. Hope you listened and took necessary...
BTC.D broke through the support at 45.9% even though no major movements are witnessed. It bounced from the support line of the uptrend which is still valid and could lead to BTC.D reclaiming the 46.8% closing above the S/R flip before continuing it's upward movements holding above the supply zone aiming for the next supply at 48.1%. We are still bullish overall.
A little dive into BTC dominance over the next few months. As the data suggests, the top is looking to 'peak' sometime in December for BTC and then the champagne tower flows into ETH and Altcoins. This is where I would expect to see BTC dominance reach new lows never seen before. Taking the last dominance fall of 63% as a rough estimate for the 'bottom' when then...
BTC's dominance has been in a trading range. Breaking down out of the overbought RSI zone and also breaking the short term uptrend to the downside suggests the ALTS are going to rally for a while. I'm looking at positions in the L1 blockchain protocols.
Top Chart: Bitcoin Dominance
Bottom Chart: Market Cap Excluding Bitcoin
Bottom Channel broken for BTC.D yet market is still going up as a whole. Where is that money going?
Bitcoin dominance has two paths ahead
If the candlesticks break above 48.5 in the daily timeframe, green targets will be available in order, which is not good for altcoins.
Moving down can also lead to reaching goal 35
Just like many others already pointed out, October is a BTC month, but could we have an anticipated move or Alts starting on ETH?
Maybe, considering that ETHBTC graph is moving faster than the Alts Dominance, I could say that this is the begging of the crypto market cycle:
BTC>ETH>(TOP 10: ADA, BNB, DOT, SOL, LUNA)>(MID CAPS:AVAX, ALGO, ATOM, FTM , CAKE, EGLD )>...
we are on 4hr candle here on btc.d chart As we can see here in chart that BTC.D is creating Bearish flag on 4hr candle. here targets are listed
below. we can see Mini Alt season soon. keep your eyes on alts.
NOT FINANCIAL ADVICE
Someone gave me an idea on this, but unfortunately I was unable to recall to whom that credit belonged to.. so it goes a little something like this:
There comes a point in time when bitcoin's dominance takes a hit, then it becomes the media darling and gets all the attention it needs to rally parabolically but it never breaks past its...
As BTC moved down, BTC.D followed testing perfectly the 4h demand as i warned you previously. We see a huge rejection from that area, plus it is an area of support as BTC.D is still moving in an uptrend respecting the support line. It previously failed to hold above the daily supply and broke through the S/R flip at 46.65%. We are still bullish on BTC.D and...
BTC.D FREE UPDATE
Are you ready for the biggest altseason in your life
- Yello, ladies and gentlemen!
The Bitcoin dominance just reached our MTF resistance at 48%.
The ParadiseTeam believe that we are about to start a new corrective cycle very soon. You all know what that means already; this will be the turnaround for altcoins.
The king of alts (ETH) will...
