Hello, Traders!
After the rapid growth, Bitcoin's dominance began to fall.
This means that altcoins were stronger than Bitcoin at the moment.
Altcoin trading is generally an attempt to outrun the rise of the index (Bitcoin).
Falling domination chart is usually a positive trigger for altcoin trading
A rising dominance chart is a negative trigger for buying altcoins.
The current upside movement has corrected more than 61.8% (to 0.618 Fibonacci retracement levels)
Now we are beginning to see an increase in dominance, as bitcoin began to grow and becomes stronger than other assets in the market.
Therefore, we see a capital flow from altcoin/btc pairs towards Bitcoin.
The nearest resistance levels on the chart are
64.24;
66.50;
68.00
After a fast correction, you should always wait for a rebound.
That's why it's better to start working with altcoins and buy them after a reaction to the level of 66.50
Good luck and watch out for the market!
After the rapid growth, Bitcoin's dominance began to fall.
This means that altcoins were stronger than Bitcoin at the moment.
Altcoin trading is generally an attempt to outrun the rise of the index (Bitcoin).
Falling domination chart is usually a positive trigger for altcoin trading
A rising dominance chart is a negative trigger for buying altcoins.
The current upside movement has corrected more than 61.8% (to 0.618 Fibonacci retracement levels)
Now we are beginning to see an increase in dominance, as bitcoin began to grow and becomes stronger than other assets in the market.
Therefore, we see a capital flow from altcoin/btc pairs towards Bitcoin.
The nearest resistance levels on the chart are
64.24;
66.50;
68.00
After a fast correction, you should always wait for a rebound.
That's why it's better to start working with altcoins and buy them after a reaction to the level of 66.50
Good luck and watch out for the market!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.