BTC Dominance: is a (small) drop in dominance coming?
Updated
Did a short (Fib-)analyses on bitcoin dominance (BTC.D).
Marked out the bigger yearly, quarterly and monthly levels as well.
Bitcoin dominance has been in an upward trending channel for about 45 weeks.
Just recently it fell through the bottom of the channel.
It is now below the former weekly support level and the former Low of Week level.
I've drawn a downward trendline (dotted white) that seems to be forming.
Is a (small) drop in dominance coming. And if so, are we falling back to ca. 44%.
That would mean a drop of 12%.
Too early to call altseason, but I'm keeping my eye on the dominance the coming days and weeks.
Marked out the bigger yearly, quarterly and monthly levels as well.
Bitcoin dominance has been in an upward trending channel for about 45 weeks.
Just recently it fell through the bottom of the channel.
It is now below the former weekly support level and the former Low of Week level.
I've drawn a downward trendline (dotted white) that seems to be forming.
Is a (small) drop in dominance coming. And if so, are we falling back to ca. 44%.
That would mean a drop of 12%.
Too early to call altseason, but I'm keeping my eye on the dominance the coming days and weeks.
Comment
Did the Others Dominance as well.Chart looks promising... the others dominance is in an uptrend.
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