Dominance BTC has completed the 5-wave push.
The confirmation of the EMA21 will be a sign that the ABC correction is coming.
Maybe it is coming after the drop of the next test of the BTC around 9k
And altcoin usually create a new bottom recently is a sign.
Well , we all waiting for an altcoin season and maybe this chart may help us to predict some resistance points and timescape.
I think there is no meaning for selling alts anymore but if the resistance breaks we may think about that again.
BTC Dominance has just bumped into 200 weekly moving average and we are likely to see a short term dip in bitcoin dominance, which means, altcoins are likely to pump (in BTC ratio mainly).
It is hard to tell of how deep BTC dominance is about to retrace, but I have identified 2 major support zones based on previous resistance, and fibonnaci retracement...
We can see up trend
Last two month we moving in up trend channel, we already touched resistance line of this channel and now forming symmetrical triangle. Altcoins start moving and BTC dominance can go to first support line. After that we will observe whether we break the support line or not. But we must always remember the blue magnetic support line. Even if we...
Data shows how bitcoin and cryptocurrency tend to enter bull market when bitcoin's market dominance against altcoins falls. Currently it's still rising.
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Good day traders,
Someone on Twitter had a request in regard to BTC dominance so here is my analysis.
Previously, I counted the rise in BTC's dominance as a five wave structure but something just didn't felt right so I've changed my mind in regard to the count. But don't worry, the outcome is still the same:
We are near a turn
As you can see, I'm counting...
If we are talking about the future. You'd expect at some point we would have a big drop down in Bitcoin Dominance.
It all depends on when. Which could would push up the alt market against the Bitcoin Dominance.
How patient must you be?
How high can we go before we do come down?
BTC dominance (BTC.D) continues raising, when will it stop?
Base on a simple Fibonacci retracement draw, we can expect the (72 - 74%) values will be the top of this rise. There was a small difference (about 1-2%) between Tradingview and Coinmarketcap.com's calculation. So the relative values for coinmarketcap.com should be 70 to 72%. We are so close to the...
As I had also posted on the 21st August in a telegram channel as a reply.
More minor alt gains until PRISM’s psar-based RSI/Stochs resets.
Noteworthy: However, divergence in the progressive tops of the psar oscillator where it is descending, while BTC dominance is ascending.