Bitcoin dominance Formation of an ascending wedge before halving

Updated

Bitcoin dominance chart by market capitalization. Perhaps an upward wedge will form before halving. Then a strong drop in the dominance of bitcoin and pumping altcoins. I showed the zone for a more likely reversal on the chart, although the entire zone for observation is the line of the uptrend.

You also need to understand that the situation can change quickly if domination breaks the uptrend line (red line) and consolidates below it. This will mean the beginning of a downtrend and the beginning of a full-fledged pump of the viola season in which most already do not believe, and this is a good sign.

Domination is for a long time near this trend line of the uptrend, and the further in time, the situation is heating up. Sooner or later we will see her breaking through. I think everyone is looking forward to it.

Note

At the local level, something like a cup with a handle has formed, if there is a breakthrough in the resistance of this formation, this figure will be confirmed. The potential for increasing dominance from resistance at the local level is about 4%.

Note

Comparison of trends. BTC domination - halving + LTC - halving.

Note

the rising wedge is broken. Perhaps the domination will return to the previous support of the wedge (already resistance).
If the dominance of Bitcoin continues to decline - this is a FULL PUMP OF THE SEASON.

Note

BTC% dominance When is the pump season? The Dragon. ABCD Pattern

Note

Everything is going according to plan.
An important zone of support for the dominance of the BTS has broken through. Altcoins begin to pump up. So far, only with a small capitalization.
Now there are 2 important levels of support shown in the idea, everything is decided from them

Note

SpartaBTC

✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2

Also on:

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.