I had to do this chart to prove that the stablecoins within the BTC dominance chart do not interfere with the H&S pattern forming.
There is no way around it, BTC.D looks bearish. It wants to go for the new ATL. If you want to believe it or not, there is H&S in both, including stablecoins and excluding.
Again: This market is too big for one single asset to have 50% of the total MC. BTC dominance will eventually be around 10%, which still is a lot. May take a while, but it will happen.
We might be close to another big drop in BTC dominance which indicates that the Alts will outperform BTC by a lot.
Just want and see...
There is no way around it, BTC.D looks bearish. It wants to go for the new ATL. If you want to believe it or not, there is H&S in both, including stablecoins and excluding.
Again: This market is too big for one single asset to have 50% of the total MC. BTC dominance will eventually be around 10%, which still is a lot. May take a while, but it will happen.
We might be close to another big drop in BTC dominance which indicates that the Alts will outperform BTC by a lot.
Just want and see...
Note
Dominance is having a hard time holding 40%...One strong news for the altcoin market, will tank BTC.D to below 30%...
This news could be XRP wins over SEC...tic tac...tic tac...
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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.