BTC dominance (Y20.P5.E3).MACRO. Upward pressure
Hi All,
The timing is interesting about BTC dominance when its reaching the ATH for this year.
The pressure is upwards and it can only be attributed to 2 things, a breakout of a new high or a strong rejection.
I'm worried about the double top scenario however the macd and rsi gives the impression in the short time period, that there is more room to the upside.
With the initial upwards trajectory of BTC dominance, I still see more sideway ranging at this level between support and resistance
12 HRLY chart, note the macd, to me, all seems strong to the upside
My green box has a number of confluences of resistance so its hard to know.
Lets hope it can hold this level for a day at least.
All the best,
S.SAri
2Day chart, note how each fib level played support.
The timing is interesting about BTC dominance when its reaching the ATH for this year.
The pressure is upwards and it can only be attributed to 2 things, a breakout of a new high or a strong rejection.
I'm worried about the double top scenario however the macd and rsi gives the impression in the short time period, that there is more room to the upside.
With the initial upwards trajectory of BTC dominance, I still see more sideway ranging at this level between support and resistance
12 HRLY chart, note the macd, to me, all seems strong to the upside
My green box has a number of confluences of resistance so its hard to know.
Lets hope it can hold this level for a day at least.
All the best,
S.SAri
2Day chart, note how each fib level played support.
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