Bitcoin Dominance
Updated
Hello!
This is continuation from my previous analysis Bitcoin Dominance.
We did go take some more speed and we are back with recharged batteries. Orange trendline has worked as a resistance and I'm interested to see when it breaks.
We have now tested it 4 times. The more times trendlines (supports or resistances) are hit the more probably it will break. (followers should know this already)
Right after the trendline there is 200 EMA which can bring sell pressure. Maybe we will break and retest.
Green on RSI shows some Bullish Divergences which usually tells that a trend change could be on the way.
What has changed now:
We can see that after the last touch we have made smaller dip than the previous 3 times. That tells me there is more bulls now. We do need to see this 4 hr candle close ofc first. We can also do similar break as before on RSI, lose some dominance and give a possibly "last stretch" to alts.
We now have formed a nice looking inverted head and shoulders (Red marks) which tells us there is more bulls than when the head was emerging (Higher low)
Jebu
This is continuation from my previous analysis Bitcoin Dominance.
We did go take some more speed and we are back with recharged batteries. Orange trendline has worked as a resistance and I'm interested to see when it breaks.
We have now tested it 4 times. The more times trendlines (supports or resistances) are hit the more probably it will break. (followers should know this already)
Right after the trendline there is 200 EMA which can bring sell pressure. Maybe we will break and retest.
Green on RSI shows some Bullish Divergences which usually tells that a trend change could be on the way.
What has changed now:
We can see that after the last touch we have made smaller dip than the previous 3 times. That tells me there is more bulls now. We do need to see this 4 hr candle close ofc first. We can also do similar break as before on RSI, lose some dominance and give a possibly "last stretch" to alts.
We now have formed a nice looking inverted head and shoulders (Red marks) which tells us there is more bulls than when the head was emerging (Higher low)
Jebu
Note
Weekly time frame support and spinning botNote
If you like big timeframe analysis you love this montly supportNote
Either way Bitcoin can rise and alts (most are shit coins) lose marketcapor Bitcoin falls and alts bleed more. I don't think we will close lower than that on monthy. Atleast for now
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