The BTC graph shows on the monthly graph that the price has broken out already from an inverted head & shoulders pattern. It follows the same flow as the Total Market cap graphs incl. and excl. BTC and ETH. Only is BTC front running and the rest of the market is lacking behind. But this does not mean that it's over or that this is bad thing.
On the short term, based on the inverted head & shoulders, BTC has the potential to increase up to $ 123.000 and the BTC.dominance can increase up to 72%. If this happens, Altcoins will go up as well. It only means that at that moment there could potentially be more interest in BTC.
So it's not over yet. Not for BTC and not for Altcoins. It's important to zoom out and what the bigger patterns on the monthly and weekly graphs to be able to understand where the cryptomarkt is heading to.
On the short term, based on the inverted head & shoulders, BTC has the potential to increase up to $ 123.000 and the BTC.dominance can increase up to 72%. If this happens, Altcoins will go up as well. It only means that at that moment there could potentially be more interest in BTC.
So it's not over yet. Not for BTC and not for Altcoins. It's important to zoom out and what the bigger patterns on the monthly and weekly graphs to be able to understand where the cryptomarkt is heading to.
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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.