Bitcoin Dominance | Leading Alt Season? Or Continuation Decline?| CRYPTOCAP:BTC.D | 🔎 Weekly Analysis
As you may know. alt seasons depend on a decline in BTC.D.
BTC.D is calculated as the ratio of Bitcoin’s market capitalization to the total market capitalization of the digital asset space. When BTC.D falls, it indicates that capital is flowing out of Bitcoin into altcoins or stablecoins such as USDT, USDC, RLUSD and others.
••• BTC Dominance (BTC.D) during past alt season.
⏪ Now that we understand what BTC.D is, let's examine its behavior during previous alt season. As marked in the chart, BTC.D has experienced an uptrend. After a breakout, it pushed to new high within the upward channel, and as expected, a reversal occurred! (Price Action Rules)
••• Current state of BTC.D.
▶️ After a significant spike, it is currently following an upward channel.
A spike followed by a channel pattern is a common price action occurrence.
As Marked in the chart, similar to previous alt seasons, BTC.D has experienced a breakout from the upward channel and has pushed to new high. Therefore, we can expect a potential reversal!
🔳 Final words
Is it time to buy some altcoins? If you ask me, it's not yet time to invest. We cannot predict whether a reversal is happening or not. Since we avoid taking unnecessary risks, we should wait for clear sign of reversal in the BTC.D
❤️🔥 Thanks for reading my idea!
Altsvsbtc
BAND BREAKS ABOVE MAJOR RESISTANCE - FINALLY!!!I've been trading / accumulating BAND since around 9.6, so I've been waiting on this move for a minute (see previous charts below).
And when I entered that mid term hold, I knew literally nothing about the BAND project. I decided to get in 100% on technicals. It's just so obviously bullish on the higher TFs.
It's been tricky to trade, but a solid mid term holder if you can ignore the day-to-day chop. Definitely hasn't been a straight line up to this point...
Assuming BTC cooperates, This should trigger a major push higher soon. Look for re-entry on a retest of the previous resistance levels, but don't blame me if it never does... ;)
happy trades,
CD