bitcoin dominance analysis to understand BTC vs ALTs behavior
the dominance of bitcoin is testing its critical support line for the third time, with a bearish hidden divergence in the peaks of the price action and indicator, I expect a break this time.
what does it mean?
1. whole market crashes (high probability)
the whole market crashes, but Bitcoin crashes harder and sharper than alt coins
in this scenario, I prefer to buy ONLY BTC in the deepest dips!
2. bitcoin continues sideway for a while (medium to low probability)
this will result in ALT SEASON!
3. bitcoin rises right from here (low probability)
Alt coins rise sharper! ALT SEASON again
this is not financial advise!
these are just my thoughts on "probabilities" based on divergence strategy :)
what does it mean?
1. whole market crashes (high probability)
the whole market crashes, but Bitcoin crashes harder and sharper than alt coins
in this scenario, I prefer to buy ONLY BTC in the deepest dips!
2. bitcoin continues sideway for a while (medium to low probability)
this will result in ALT SEASON!
3. bitcoin rises right from here (low probability)
Alt coins rise sharper! ALT SEASON again
this is not financial advise!
these are just my thoughts on "probabilities" based on divergence strategy :)
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