BTC Dominance - Bitcoin stuck between 60-65%! 🧐
Bitcoin Dominance has been stuck between 60% and 65% for some time now. We do not seem to want to leave this area so we are likely to consolidate further in this zone until we have a clear reaction in price from BTC (below my BTC/USD idea).
What I would expect is a sharp reaction in price once we move beyond this range.
This may also be a no-trade zone as there is no clear direction or momentum, however, some alts can shine in such an environment. Likely we will not get a generalized alt rally until BTC Dominance starts going down or breaks under 60%.
For now good idea to scout some nice plays in alts until BTC decides what to do next.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
What I would expect is a sharp reaction in price once we move beyond this range.
This may also be a no-trade zone as there is no clear direction or momentum, however, some alts can shine in such an environment. Likely we will not get a generalized alt rally until BTC Dominance starts going down or breaks under 60%.
For now good idea to scout some nice plays in alts until BTC decides what to do next.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
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