An interesting set up currently on the XRPBTC chart. Not only is it the exact same setup that made BTC longs appealing at the bottom, it also has strong support where it reacted positively last September.
Does this mean it will go up this time? No. However its an area i will definitely be looking to start some long positions if the trend continues.
Bitcoin's dominance rate reached 55.07% today - Its highest rate since Dec 16,2018. As of today it is currently 0.3% away from reaching its highest levels since September 2018.
But was does this mean exactly? Since Bitcoin started its rally many Alts have both been taking a hit in both Sats and Dollar value. However, i believe Alts will be in for a relief rally...
A BTC weekly close above 5100 would be considered bullish and would set up potential Long opportunities next week. However if that level does not hold a breakdown to previous resistance turned support levels would be very likely.
I am currently waiting for the weekly close before entering in any positions.