Is this the end of current Bitcoin Dominance trend ?
Updated
Hello everyone,
I know everyone or at least majority of people are bullish on BTC.D and call for alts death
(1st sign of reversal because markets likes to do the opposite of what most retailers expect)
but
I feel like Bitcoin Dominance days will be over soon, at least for now.
With some major alts slowly weaking up from hibernation
&
1) Finished five wave pattern W1-W5 (dominant trend) (BTC.D)
2) Bearish divergence on Stoch RSI which is pointing down (BTC.D)
3) Upcoming death cross on MACD (BTC.D)
Price is also channeling in the Rising Wedge pattern ( The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows.
I think Three wave pattern or A-B-C (corrective trend) is upon us.
Don´t get me wrong ! I´m bullish on Bitcoin but this chart could mean there might be altcoins that will outperform the grow of Bitcoin in the upcoming months.
If you appriciate my work efforts I would appriciate like for this TA
&
If youre in doubts or have any questions then feel free to ask in comments below the chart.
Wish you all nice Weekend
Cheers
------------------
Risk Disclosure
DISCLAIMER: This is not a financial advice ! Cryptocurrency trading involves substantial risk of loss and is not suitable for every investor. The valuation of asset may fluctuate, and, as a result, clients may lose more than their original investment. Investing will have impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains. As an investor, it's crucial to know how much of your money you could lose and what circumstances could cause this to occur. Always do your own research and think twice before you invest.
I know everyone or at least majority of people are bullish on BTC.D and call for alts death
(1st sign of reversal because markets likes to do the opposite of what most retailers expect)
but
I feel like Bitcoin Dominance days will be over soon, at least for now.
With some major alts slowly weaking up from hibernation
&
1) Finished five wave pattern W1-W5 (dominant trend) (BTC.D)
2) Bearish divergence on Stoch RSI which is pointing down (BTC.D)
3) Upcoming death cross on MACD (BTC.D)
Price is also channeling in the Rising Wedge pattern ( The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows.
I think Three wave pattern or A-B-C (corrective trend) is upon us.
Don´t get me wrong ! I´m bullish on Bitcoin but this chart could mean there might be altcoins that will outperform the grow of Bitcoin in the upcoming months.
If you appriciate my work efforts I would appriciate like for this TA
&
If youre in doubts or have any questions then feel free to ask in comments below the chart.
Wish you all nice Weekend
Cheers
------------------
Risk Disclosure
DISCLAIMER: This is not a financial advice ! Cryptocurrency trading involves substantial risk of loss and is not suitable for every investor. The valuation of asset may fluctuate, and, as a result, clients may lose more than their original investment. Investing will have impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains. As an investor, it's crucial to know how much of your money you could lose and what circumstances could cause this to occur. Always do your own research and think twice before you invest.
Note
BTC.D ominance slighlty dropped but didn´t broke the support yet (bounced on it) Note
Important moment 
Note
MACD had death cross and Stoch RSI pointing down Note
We reached the black hole zone where Monthly support line lays. If it breaks more down to come. So far both indicators pointing there. Closing of current monthly or next monthly candle should be more clear to tell us the path. Note
I think today is the day when we will melt down threw that black hole ! 
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