Bitcoin Dominance Breakout could Be Really Bad news ⚠️
Bitcoin Dominance had been going sideways in what we called 'slow death April 2022'.
Well, early in May the price is attempting (right now) to exit from the descending wedge and it appears to be doing that going North (Up).
When Btc dominance rises it's bad news for Altcoins so let's be careful and see how the price behaves at resistance.
Keep you posted and remember what our plan has been this year:
Buy BTC, hedge with some short positions on some Alts and Nasdaq...
Been working here but still, very painful to see Alts losing even more ground.
This is our opinion here, our only advise is to do your own research and take it easy.
One Love,
the FXPROFESSOR
Well, early in May the price is attempting (right now) to exit from the descending wedge and it appears to be doing that going North (Up).
When Btc dominance rises it's bad news for Altcoins so let's be careful and see how the price behaves at resistance.
Keep you posted and remember what our plan has been this year:
Buy BTC, hedge with some short positions on some Alts and Nasdaq...
Been working here but still, very painful to see Alts losing even more ground.
This is our opinion here, our only advise is to do your own research and take it easy.
One Love,
the FXPROFESSOR
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