Bitcoin Dominance Is About Give a New Life To Altcoins!
Hello, Skyrexians!
We have already mentioned the importance of different crypto assets dominance analysis. Today we are goin to update the main one
BTC.D . Last month it makes us nervous with the potential intention to set the new high. Current formation looks like a triangle - trend continuation pattern and it scares many traders. Is this nightmare is going to be true, or altseason is coming?
Let's take a look at weekly time frame. Now we use the combination of our hand made indicators: Bullish/Bearish Reversal Bar Indicator [Skyrexio] and Fractal Trend Detector [Skyrexio]. Trend detector started printing the red candles, the bearish trend late in 2023, but those time this tendency shift failed. This time we have seen two red dot on other indicator and after that trend change. In our opinion this is much stronger confirmation that altseason is really coming.
You probably already know that predicted earlier the dominance drop to 27%, but today we are talking about short term forecast, 0.61 Fibonacci level below 50% is the target for February.
Best regards,
Skyrexio Team
___________________________________________________________
Please, boost this article and subscribe our page if you like analysis!
We have already mentioned the importance of different crypto assets dominance analysis. Today we are goin to update the main one
BTC.D . Last month it makes us nervous with the potential intention to set the new high. Current formation looks like a triangle - trend continuation pattern and it scares many traders. Is this nightmare is going to be true, or altseason is coming?Let's take a look at weekly time frame. Now we use the combination of our hand made indicators: Bullish/Bearish Reversal Bar Indicator [Skyrexio] and Fractal Trend Detector [Skyrexio]. Trend detector started printing the red candles, the bearish trend late in 2023, but those time this tendency shift failed. This time we have seen two red dot on other indicator and after that trend change. In our opinion this is much stronger confirmation that altseason is really coming.
You probably already know that predicted earlier the dominance drop to 27%, but today we are talking about short term forecast, 0.61 Fibonacci level below 50% is the target for February.
Best regards,
Skyrexio Team
___________________________________________________________
Please, boost this article and subscribe our page if you like analysis!
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