I was wrong about dominance before. looks like its going to do a pullback to the broken trend line. my final target is 47 for now, although there's not gonna be straight to the target and I'm expecting retraces along the way. will update the idea there.
remember when everyone is short, the market goes long. as I expected the huge long squeeze, bitcoin broke the red trendline (which everyone planning on going short there for over a week.)
in the terms of price action, there's a huge supply area above, around (57.2-58.2K). and the technical tools also indicate this area as a huge supply zone.
so I expect bitcoin...
these beautiful trend lines!
all is good till we're above the red trendline.
the main resistance above is the black trendline (around 50K)
(ignore the lower targets. there are for the time i was a bear haha)
There's strong support in this area for dominance. as you can see it reaches its head and shoulder target. and I think we will go up from this point. this means either bitcoin go up and outperform alts or bitcoin dumps and alts drawn into the dust and blood.