We are not bearish until we get a Weekly RSI bearish divergence in the dominance.
JAN 10, 2022 will be the MARKET TOP
Altcoin dominance will get to 80% at the market top.
We haven't had crazy down wicks like in 2017. Is it because there's less volatility because market caps are much larger?
According to RSI, we are in July 2017.
ALTCOIN BULLRUN INCOMING!
There's no way the BTC dominance will not go lower in this bull run than in 2017 at 35%. Alts are taking more place in the crypto market.
In the long term, ALTS will take more dominance. BTC will never return to 90% dominance!
When I compare the NASDAQ to BTC, that's what it's saying.
Look at what happened in the down markets in 2018 and mid 2019 to 2020. It's very similar to today.
We just brokeout of the weekly RSI which is bad news. The pain might continue for a while.
If we get above the 0.50 mark, I would sell all my crypto for USDC.
I would MUCH rather be bullish but it's not...
I'm hoping the line goes back down meaning BTC is pumping.
But it seems the price might continue going up to touch the trend line above.
That could mean a big crash in BTC price. Maybe down to 20-25k$.