#BTC Dominance Understand this level if you are holding ALTS!
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ALT/BTC Pairs are likely to have some pullbacks.
Breakout and retest in LTF. But if you zoom out, the index is hitting the 200D MA.
Break above this level could result in more downside in Altcoins.
Less likely but possible.
For those who are trading with margin in BTC Pairs.
Be careful, even a -15% move could kill your position.
It's important to preserve what you have.
So 42.40% is the key level you must watch out for now.
We are witnessing an extended period in these ALT cycles.
A lot of new developments in the charts.
Conclusion:- Break above the 200MA will be bad for BTC Pairs, 2-3 Rejection candles and the index could go down from here.
Let me know your thoughts in the comment section.
Your likes are highly appreciated.
Thank you
*9 Years in Trading!
*7 years in Crypto
*Certified Technical Analyst
*Record Holder of Most liked Bitcoin Chart on Tradingview.
*Consistent updates on Markets and Trade Setups
*No Bias
*All-time Top Author on various assets and index charts globally.
*Very Active Community during both bull and Bear Market
ALT/BTC Pairs are likely to have some pullbacks.
Breakout and retest in LTF. But if you zoom out, the index is hitting the 200D MA.
Break above this level could result in more downside in Altcoins.
Less likely but possible.
For those who are trading with margin in BTC Pairs.
Be careful, even a -15% move could kill your position.
It's important to preserve what you have.
So 42.40% is the key level you must watch out for now.
We are witnessing an extended period in these ALT cycles.
A lot of new developments in the charts.
Conclusion:- Break above the 200MA will be bad for BTC Pairs, 2-3 Rejection candles and the index could go down from here.
Let me know your thoughts in the comment section.
Your likes are highly appreciated.
Thank you
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