BITCOIN DOMINANCE AT MAJOR SUPPORT! BE CAREFUL WITH YOUR ALT BAG
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Welcome to this Bitcoin Dominance update. Those who don't know, BTC.D works inversely with Altcoins. It means when BTC.D dumps, Alts will pump and when BTC.D pumps, Alts will bleed.
Now let's get to the chart.
Currently, Bitcoin dominance trading below 40 and it is at the major support level in the weekly time frame. Every time dominance comes at this level we have seen a pump and bloodbath in Altcoins.
BTC.D goes below 39.30 level only one time which happens in 2018. This 39-40 range is a very strong support so we see a bounce from here and if it bounce then be ready to see huge dump in Alts.
It's better to stay cautious now.
Invalidation:- Weekly close below 39.30 level.
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 Bitcoin Dominance update. Those who don't know, BTC.D works inversely with Altcoins. It means when BTC.D dumps, Alts will pump and when BTC.D pumps, Alts will bleed.
Now let's get to the chart.
Currently, Bitcoin dominance trading below 40 and it is at the major support level in the weekly time frame. Every time dominance comes at this level we have seen a pump and bloodbath in Altcoins.
BTC.D goes below 39.30 level only one time which happens in 2018. This 39-40 range is a very strong support so we see a bounce from here and if it bounce then be ready to see huge dump in Alts.
It's better to stay cautious now.
Invalidation:- Weekly close below 39.30 level.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
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