Things we have to concentrate on
hello guys
Today I want to share some remarkable facts with everyone. there are a few indicators were I'm going to talk about:
bitcoindominance
So bitcoins dominance is going down and down for more than a month now. it had a correction from 45% to 36,4%. its quite remarkable because not only bitcoin but 7 of the other top 9 crypto's are going down as well. 'the others' keep on gaining more dominance in this market. When the market has a correction, btc gains dominance and when the market is going up, they lose dominance. that means that the volatility of btc is low in comparison to the other crypto's.
graph
the graph is telling us a lot of promising stuff, there is a postive flow in crypto's right now and the bullish pennant is create (see image).
The relative strenght index is high at the moment, so buying now in the trend can be a good idea but i doubt it.
another cool thing is that the 50 day moving average crossed the 200 day 5 days ago. that's an indicator for a positive trend.
volume
the volume went down big time, now the volume is gaining day by day. My only worry is that big institution with a lot of cash are influencing this market way to much. this market is to young and to vunrebal for the big buysprees that some of this institutions have. on the other hand are the institiutions necessary for the growth of the market.
conclusion
1) btc-volatility is going down (in comparison to others). this can be a huge deal, a lot of investors did not invest in BTC because of that.
2) graph is telling us good news
3) volume is good but has to be more diversified to be stable
sources: cointelegraph, coinmarketcap, tradingview, yt
Today I want to share some remarkable facts with everyone. there are a few indicators were I'm going to talk about:
bitcoindominance
So bitcoins dominance is going down and down for more than a month now. it had a correction from 45% to 36,4%. its quite remarkable because not only bitcoin but 7 of the other top 9 crypto's are going down as well. 'the others' keep on gaining more dominance in this market. When the market has a correction, btc gains dominance and when the market is going up, they lose dominance. that means that the volatility of btc is low in comparison to the other crypto's.
graph
the graph is telling us a lot of promising stuff, there is a postive flow in crypto's right now and the bullish pennant is create (see image).
The relative strenght index is high at the moment, so buying now in the trend can be a good idea but i doubt it.
another cool thing is that the 50 day moving average crossed the 200 day 5 days ago. that's an indicator for a positive trend.
volume
the volume went down big time, now the volume is gaining day by day. My only worry is that big institution with a lot of cash are influencing this market way to much. this market is to young and to vunrebal for the big buysprees that some of this institutions have. on the other hand are the institiutions necessary for the growth of the market.
conclusion
1) btc-volatility is going down (in comparison to others). this can be a huge deal, a lot of investors did not invest in BTC because of that.
2) graph is telling us good news
3) volume is good but has to be more diversified to be stable
sources: cointelegraph, coinmarketcap, tradingview, yt
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