BITCOIN DOMINANCE UPDATE! WHEN ALT SEASON?
Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this BTC Dominance update. Bitcoin dominance is inversely proportional to altcoins means when BTC.D increases Alts starts dumping and when BTC.D dumping, Alts starts pumping. BTC.D affects especially BTC pair altcoins.
Now, let's get to the chart.
Here I show you a 3-day chart of bitcoin dominance. According to this chart, dominance is moving inside a parallel channel and currently breaks above the middle line of the channel(dashed line).
Also, it breaks above the 100ma. So from here, I'm expecting a bounce in dominance till the 46 levels. After reaching the 46 levels I'm expecting a rejection and that is the best time to enter into altcoins.
As of now, I'm waiting patiently to reach dominance at that level and when I see any rejection I'll update you all. Till then stay safe and stay tuned.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this BTC Dominance update. Bitcoin dominance is inversely proportional to altcoins means when BTC.D increases Alts starts dumping and when BTC.D dumping, Alts starts pumping. BTC.D affects especially BTC pair altcoins.
Now, let's get to the chart.
Here I show you a 3-day chart of bitcoin dominance. According to this chart, dominance is moving inside a parallel channel and currently breaks above the middle line of the channel(dashed line).
Also, it breaks above the 100ma. So from here, I'm expecting a bounce in dominance till the 46 levels. After reaching the 46 levels I'm expecting a rejection and that is the best time to enter into altcoins.
As of now, I'm waiting patiently to reach dominance at that level and when I see any rejection I'll update you all. Till then stay safe and stay tuned.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Related publications
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.