Technical analysis of Bitcoin (BTC) against Tether (USDT) on a daily timeframe:
1. Main Bullish Trend:
The chart shows a long-term bullish trend line starting from the lower left corner and extending upwards. This line has been acting as a support level for Bitcoin's price.
2. Double Top Pattern:
A double top pattern is identified near the upper middle section...
#BITCOIN #DOMINANCE ANALYSIS
In the daily chart of Bitcoin dominance, support is seen in the range of 40 with divergence. Meanwhile, the dominance is approaching its downtrend line. For this reason, the range of 49 growths can be expected to occur.
If range 49 is also broken. Due to the formation of the pattern of double bottom, we can expect growth to continue...
On Sept 19, 2019 BTC dominance (BTC.D) fell hard from 71.30 until it reached demand at 62. If price approaches 71.30 it will be a good time for me to convert some of my btc to alts, anticipating a move down in dominance.
BTC.D peaked around 73 on September 5th, 2019. After that, we saw a consistent decline to 67.5. Some money flowed into the alts during this time frame with BAT and LINK (both amazing projects, check them out if you haven't) being couple of the top gainers. However, on November 27th, 2019 we broke above the 50 SMA AND on December 6th, 2019 BTC.D broke above the...
