As you can see in the chart,
BTC dominance is showing a pennant flag consolidation pattern. This might give some relief to the altcoins that are bleeding, but unfortunately, this pattern is a bullish one, and
BTC dominance could grow up to 57% before having a pullback.
Do your own research (DYOR). I hope I am wrong since I own a lot of altcoins, but that is what I see in the chart.
Do your own research (DYOR). I hope I am wrong since I own a lot of altcoins, but that is what I see in the chart.
Note
Everything is following the play, the BTC dominance pumped over the resistance line and made it a support.Note
As a rule, remember that However, when the market recovers, altcoins can gain +30% or more, which is when investors buy back their altcoins at a low price and make more profits. During the recovery,
This phenomenon exacerbates the altcoin dump, making it harder to endure. But knowing this, investors should not be worried about a sudden drop in total market capitalization, as it is temporary and just a normal money fluctuation.
Note
This idea is playing out as forecasted. Now we should get a bounce down, and altcoins should recover.Note
So far so good! The chart is following my expectation. Now let see if we get a rejection. That would be awesome for the altcoin and will confirm my prediction.Telegram: t.me/metaisland_gg
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/metaisland_gg
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.