HEY crypto community, what's going on today ❓❕‼️😉
since Jul 21 ,that I posted last update for BITCOIN dominance , OTHERS dominance and TETHER dominance , as I expected ,these indices has been slightly continuing previous trends !
Also as I told you guys , while the dominance of both BTC and tether decreased But others.d increased and at same time we an wait for more growth for altcoin , and we've seen that bitcoin and altcoins prices has slightly raised recently .
So in my opinion it means that at least a short-time Altcoin-party is still expected , .
when the bitcoin dominance is still significantly bigger than others . ( Usdt.d - Others.d - Eth.d..) BTC.D AND Bitcoin price is determinant for the next possible movement of crypto market !
technical point of view:
-bitcoin dominance(BTC.D) has recently lost a major Pivot zone and treding under POC lines(Power of Control) . so in this case if it not be able to return back soon above this pivot zone immediately . it can easily drop on the lower support line .
- also as I expected for Tether dominance(USDT.D) it has been declining til now, recently ceased at a dynamic support line , so may it has a rejection and can form a H&S pattern that can fall again in this case , but anyway if loses the current support it will easily fall on the lower support zone .
- Also for Others Dominance: as we see its already trading above a major pivot zone , and meanwhile BTC.D and UST.D is decreasing it can continue its uptrend and tests the higher resistance zone just if it be able to maintain the current pivot zone.
conclusion:
According to above chart , if the current scenarios for dominances continue , Whether bitcoin price goes more up or even goes sideway its a good situation to long altcoins. btw in this situation if bitcoin even goes down ,then altcoins can go sideway!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
since Jul 21 ,that I posted last update for BITCOIN dominance , OTHERS dominance and TETHER dominance , as I expected ,these indices has been slightly continuing previous trends !
Also as I told you guys , while the dominance of both BTC and tether decreased But others.d increased and at same time we an wait for more growth for altcoin , and we've seen that bitcoin and altcoins prices has slightly raised recently .
So in my opinion it means that at least a short-time Altcoin-party is still expected , .
when the bitcoin dominance is still significantly bigger than others . ( Usdt.d - Others.d - Eth.d..) BTC.D AND Bitcoin price is determinant for the next possible movement of crypto market !
technical point of view:
-bitcoin dominance(BTC.D) has recently lost a major Pivot zone and treding under POC lines(Power of Control) . so in this case if it not be able to return back soon above this pivot zone immediately . it can easily drop on the lower support line .
- also as I expected for Tether dominance(USDT.D) it has been declining til now, recently ceased at a dynamic support line , so may it has a rejection and can form a H&S pattern that can fall again in this case , but anyway if loses the current support it will easily fall on the lower support zone .
- Also for Others Dominance: as we see its already trading above a major pivot zone , and meanwhile BTC.D and UST.D is decreasing it can continue its uptrend and tests the higher resistance zone just if it be able to maintain the current pivot zone.
conclusion:
According to above chart , if the current scenarios for dominances continue , Whether bitcoin price goes more up or even goes sideway its a good situation to long altcoins. btw in this situation if bitcoin even goes down ,then altcoins can go sideway!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
Note
..
Nothing especial has changed for 🔻BTC.D and can continue to decrease
more ,But It seems that people has been selling their altcoins recently ,
as I expected for 💹USDT.D it rebounced back to form a H&S pattern IMO ,
then I expect to fall again in this case , it means people swap usdt to
rebuy altcoins in lower prices . but if 🔻OTHERS.D loses the current support (POC) (or 13%) ,it will be a dangerous situation for altcoin, so I DONT recommend to hold altcoin in that scenario !
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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.