The Bitcoin dominance compared to the Altcoins is looking weak right now.
It tried three times to break through the trend channel the last couple days, but
could not manage to stay outside of it (H4 timeframe). The last 4h candle closed inside
the channel. If the daily candle closes inside the channel today, we can expect a downside
of the BTC dominance, which would lead to a recovering phase for the altcoins from the
bearish days.
We might see the BTC dominance going down to around 60%.
If that happens we even could see a little altcoin rally.
Let´s hope, that the altseason begins :p
It tried three times to break through the trend channel the last couple days, but
could not manage to stay outside of it (H4 timeframe). The last 4h candle closed inside
the channel. If the daily candle closes inside the channel today, we can expect a downside
of the BTC dominance, which would lead to a recovering phase for the altcoins from the
bearish days.
We might see the BTC dominance going down to around 60%.
If that happens we even could see a little altcoin rally.
Let´s hope, that the altseason begins :p
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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.
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.