BTC dominance (Y20.P3.E6).MACRO.Bullish
Updated
Hi,
Just a quick observation:
BTC dominance is going up and as per my previous BTC post, I did hint that this price will likely go up.
This explains why many of the Alts are dropping, likely many are flipping ALTs for BTC again.
Until we see BTC dominance reverse at the micro level, be wary of which ALTs you buy or HODL.
As per indicators, they show upward pressure.
My advice is to put stop limits on the BTC parings or flip if you havn't done so with your coins.
It is a short opportunity but not a large long term move. Just the micro level.
All the best,
S.SAri.
BTC chart: 12 HRLY, upward pressure
BTC DOMINANCE CHART
======================================================
PREVIOUS BTC DOM post
Just a quick observation:
BTC dominance is going up and as per my previous BTC post, I did hint that this price will likely go up.
This explains why many of the Alts are dropping, likely many are flipping ALTs for BTC again.
Until we see BTC dominance reverse at the micro level, be wary of which ALTs you buy or HODL.
As per indicators, they show upward pressure.
My advice is to put stop limits on the BTC parings or flip if you havn't done so with your coins.
It is a short opportunity but not a large long term move. Just the micro level.
All the best,
S.SAri.
BTC chart: 12 HRLY, upward pressure
BTC DOMINANCE CHART
======================================================
PREVIOUS BTC DOM post
Note
Today, many of the ALTs also followed the general stock market trend. We need to keep an eye on this.
Note
Still a lot of upward pressure.We are at the neckline so one can also expect a cup and handle formation meaning a pullback for the handle is also on the table.
If it was to happen, it will start soon.
Note
BTC has hidden bullish divergence in the short term. 8 HRLY chart. As for BTC dominance, still upward pressure on the larger day time frames.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.