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BTC.D pattern analysis (Rising & Descending broadening wedges)Hello everyone, Today I´ve prepared for you Bitcoin dominance (BTC.D) analysis based on patterns. The 1st one is: BEARISH rising wedge The rising wedge can be one of the most difficult chart patterns to accurately recognize and trade. While it is a consolidation formation, the loss of upside momentum on each successive high gives the pattern its bearish bias. However, the series of higher highs and higher lows keeps the trend inherently bullish. The final break of support indicates that the forces of supply have finally won out and lower prices are likely. There are no 100% measuring techniques to estimate the decline – other aspects of technical analysis should be employed to forecast price targets but I tried to draw it for you for easier recognition in the left top corner. The 2nd one is: BULLISH descending broadening wedge after a peak A descending broadening wedge is bullish chart pattern (said to be a reversal pattern). It is usually formed by two diverging bullish lines. There are no 100% measuring techniques to estimate the decline – other aspects of technical analysis should be employed to forecast price targets but I tried to draw it for you for easier recognition in the right bottom corner. The price objective is given by plotting the wedge’s maximum height onto the breaking point A descending broadening wedge is confirmed/valid if it has good oscillation between the two upward lines . The upper line is the resistance line; the lower line is the support line. Each of these lines must have been touched at least twice to validate the pattern. NB: a line is said to be "valid" if the price line touches the support or resistance at least 3 times. This implies that the descending broadening wedge pattern is considered valid if the price touches the support line at least 3 times and the resistance line twice (or the support line at least twice and the resistance line 3 times). Statistics of the descending broadening wedge after a peak - In 79% of cases, the exit is bullish. - In 23% of cases, a descending broadening wedge occurs in a consolidation movement. - In 81% of cases, the pattern's price objective is achieved when the resistance line is broken. - In 40% of cases, the price makes a pullback in support on the descending broadening wedge’s resistance line. I personally think that we had in previous days Bitcoin dominance fake out which seems to be turning into alt ralief/btc catch up run till the end of December/ January which could drag BTC.D down to approx. 53% again. Rest is showin in the chart. I previously called the top of it and expected the approx. path here This is where we are now at So I´ve decided to make a update with new prediction call and that bringed us to current TA Hope you like this technical analysis and I wouldn´t mind if you please leave a like & comment to me as a feedback is very importan for me. Thanks ! ChaChain ------------- Disclaimer: I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only. KEYWORDS bitcoindominance, btc.d, BTC.dominance, dominance, Market CAP BTC Dominance, %, trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond technical analysis
CRYPTOCAP:BTC.D
by Anoinvest
5
Risky profit 20% during BTC consolidationBased on my experience, all altcoins can only be traded in BTC pair. Because BTC is growing. Currently, BTC looks good and will show us consolidation during the next few days/weeks. Maybe month. Nobody knows. We know only one thing that even BTC going to 12400 is just a consolidation. And of course, you can try to trade BTC on the small movement, but usually, this gives you either low-profit percentages or even liquidation. But if you still want to enter a risky deal, then at the moment it is better to use altcoins. This is not the best deal, but altcoins usually show gains when bitcoin consolidates. So try to enter low as possible in the zone: 0.0000068 - 0.0000062 You can use limit orders. Take a profit: 0.00000770 and 0.0000090 Stop the loss If any 1D or 1W candle close below 0.0000061 Please note that altcoins are very dangerous. They will be safer when Bitcoin reaches its all-time high. Enter only 5-7% of your capital.
Long
by UnknownUnicorn9837424
Why is BTC dominance important and how it affects altcoins?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. *Follow me for the latest cryptocurrency analyses on my watchlist *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
CRYPTOCAP:BTC.D
by CryptoRush_
XRPWeekly chart has XRP sandwiched between the ema 50 & 100 also rejecting from LT POC of that HV node around .31c USD. My fib extension TP is $1.02-$1.25 for this larger move and allowing XRP to finally play catch up with BTC & ETH. This being said RSI is over bought & pointed down. I could easily see another test of .20c B4 the uptrend continues. XRP is such a popular and highly traded coin that MMs just cant let the XRP bulls win IMO, at least not without relentless shake out after shake out since 2017 bull market ended. One day when the MMs cant stop the bulls, XRP will probably just moon shot to $20 but until then HOLDERS get destroyed. Stay the course and keep busy is my advice one day we will have our moment XRP army
KRAKEN:XRPUSDLong
by Big_Mike716
4
Total Market Cap All Time High — And A Dragon Formation :) A little bit playful today with a dragon drawn over the current long-term price structure of the total market cap chart. A technical concern is that short-term it appears we have an ascending wedge which can indicate weakness. The all time high is 100% gain away. We remain 'optimistically cautious' on hitting that level this year. Could there be another 'covid crash' like in March or US election mayhem... We will continue to analyse the markets and lower time-frames while optimising the SparksterSignals algo-assisted strategy optimising tool. Check it out via the link below. Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
CRYPTOCAP:TOTALLong
by Sparkster
1
AION is clear for takeoff heading into Q4AION has been consolidating below 1400 sat resistance for months after a huge influx of volume came in this spring. Marking what is very likely to be the bottom on this one. There is a major catalyst coming up that will reduce the inflation of AION token to about 1/8th of current inflation rate. Already being called the "Eighthening" by community members. This will no doubt spur bullish speculation on the token in the lead up to the event which is currently slated to occur on November 15th. (www.timeanddate.com) The project itself has a plethora of impactful partnerships that are likely to generate real demand for the token at some point in the future. It is difficult to find a token with MORE relative buy volume inflow (In January 2020) when zoomed out on the weekly. On Balance Volume (OBV) just made a new high. If 1400 sat resistance breaks, the expansion move up into the 3000 sat area is likely to be very aggressive. Price is currently resting just above the #pumpchaser zone (.382 - .5 fib levels) Expect to see a very impressive Q4 performance from AION.
ALong
by Randomtask555
Bitcoin Dominance (Potential Alts Upside Continuation)If we assume the whole move up was an impulsive 5 wave structure; the dominance is now currently under the .236 Fibonacci level and the .382 may be next. I have (roughly) taken the height of the bearish descending triangle that broke down and cloned it for a breakdown target. This would also line up with the .382 level. Here I am using the weekly candles. Although the current candle has not yet closed, a massive wick to the upside also retested the breakdown area of the descending triangle above it. Providing this weekly candle closes under this .236 level a bullish continuation for altcoins would be expected!
CRYPTOCAP:BTC.DShort
by thekevin
Bitcoin Back Above Key Level With Positive Momentum If you've tracked our updates the past couple days you can see a glimpse of how quickly and easily market sentiment can change based on manual technical analysis. Earlier today we said "Bitcoin Beyond Hope? 3% Drop At Hand". Here's the chart: As of right now, price sentiment has reversed and we're back above resistance. What a big consumption of time. And all for just a couple of percentage points either way up or down. But of course the opportunities and risks are larger. A drop could turn 3% into 30% and you miss it. Or a sudden price rally could turn 3% gain into a 30% climb. So we have to pay close attention... or do we? SparksterSignals can help with algo-assisted signaling including fully backtested strategies (with clear performance metrics). Check out our link below. As of right now, sure enough, price action is reaching above the same horizontal level we've been watching since yesterday. This may indicate strong enough market sentiment that no further drop will happen. If price climbs back into the yellow shaded region as shown, there's a good chance that panic stations are over and traders will be looking for new long positions. We advise caution until momentum indicators reset on longer time-frames. We also advise making use of our algo-assisted signal and backtesting system. Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Long
by Sparkster