BITCOIN DOMINANCE CONTINUES TO RALLY HIGHER.
Welcome dear members to this BTC dominance update.
Let's have a quick look at the BTC dominance in 2 days timeframe.
Looks like the BTC dominance is on its way to reaching the 45% resistance level as I mentioned in my previous BTC.D update. If you compare BTC and BTC dominance side-by-side then currently, the BTC dominance is increasing and the bitcoin is dropping down. What does it mean? Well, according to the studies when this happens then altcoins dump pretty hard but sometimes it could be a false indication. Now, if we compare the current price movement with the altcoins then we can notice that majority of the altcoins are in red which means that the above statement can be true.
Coming back to the chart, the BTC.d is currently at $43%, and before reaching $45% it needs to break a slight resistance which is at $44.33%.
Keep in mind that weekend is here and the dominance picture will be more clear after the weekly close.
What do you think about BTC dominance? Do you think it will continue to rally and alts will bleed?
Let me know your thoughts in the comments.
I will see you in my next update.
Thank you.
Let's have a quick look at the BTC dominance in 2 days timeframe.
Looks like the BTC dominance is on its way to reaching the 45% resistance level as I mentioned in my previous BTC.D update. If you compare BTC and BTC dominance side-by-side then currently, the BTC dominance is increasing and the bitcoin is dropping down. What does it mean? Well, according to the studies when this happens then altcoins dump pretty hard but sometimes it could be a false indication. Now, if we compare the current price movement with the altcoins then we can notice that majority of the altcoins are in red which means that the above statement can be true.
Coming back to the chart, the BTC.d is currently at $43%, and before reaching $45% it needs to break a slight resistance which is at $44.33%.
Keep in mind that weekend is here and the dominance picture will be more clear after the weekly close.
What do you think about BTC dominance? Do you think it will continue to rally and alts will bleed?
Let me know your thoughts in the comments.
I will see you in my next update.
Thank you.
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