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Bitcoin_dominance

1.5 Year BTC Dominance Wedge Finally Breaks!Traders, for a year and a half we have lived inside of this bearish BTC.D wedge. Well, last week it finally broke. This week it looks like we'll get our confirmation of this break. This means altcoin season is officially underway (if you haven't had proof enough already). As BTC continues its sideway price action, various alts have been taking their turn playing catch up. I expect this type of price action to continue through December for alts though they may incur a bit of a pull back at some point as BTC.D heads back up to retest the underside of that wedge. Once hit though, expect our alts to run again. ✌️ Stew
CRYPTOCAP:BTC.DShort
by stewdamus
BTCTechnical 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 of the chart. This pattern usually indicates a potential reversal from a bullish trend to a bearish trend. The double top resistance level is marked around the $69,000 - $70,000 range. 3. Resistance Areas: Two main resistance areas are marked on the chart: Around $60,364.70 to $59,005.00. 4. Support Levels: Two main support levels are indicated: Around $52,000.00 5. Demand Zone: A demand zone is highlighted around the $40,555.00 to $39,452.67 range. This area has historically acted as a strong support level where buyers are likely to step in. 6. Correction Zone: A potential correction zone is marked between the Fibonacci correction levels of $42,700.00 and $38,600.00. This suggests that if the price breaks below the current support levels, it could find support in this correction zone. 7. Cycle End and Start: The chart indicates the end of a cycle at $73,777.00 and the start of a new cycle at $26,900.00. This suggests that the analyst expects the price to eventually move towards these levels. 8. Current Price Movement: The price is currently around $56,457.99 and is just below the resistance areas. The green arrow suggests a potential downward move towards the correction zone if the price fails to break above the resistance levels. The price expected to go to the correction zone at the end of it is Sycle. Bitcoin Dominance (BTC.D) Analysis Chart Summary: • Timeframe: 1M (Monthly) • Current Dominance: 54.84% • Resistance Levels: Near 57.03% • Correction Zone: Between 47.94% and 45.79% • Support Level: Around 38.84% Key Observations: 1. Current Trend: Bitcoin dominance has been in an upward trend but has recently shown signs of potential reversal. 2. Correction Indicated: The chart suggests a potential correction in Bitcoin dominance, aiming for the zone between 47.94% and 45.79%. 3. Cycle End and Start: The dominance is nearing the end of its current cycle around 57.03%, with a possible cycle start anticipated near 38.84%. 4. Green Arrow: The green arrow indicates a projected decline towards the correction zone. USDT Dominance (USDT.D) Analysis: Key Observations: 1. Current Trend: USDT dominance is currently at 5.52% and has shown signs of potential increase. 2. Resistance and Support Levels: Resistance at 6.61% Support at 3.79% 3. Projected Path: The chart suggests a potential rise towards the resistance level followed by a decline towards the support level. Final Market move according to the below chart : Summary: • The chart indicates a potential bearish outlook in the short term due to the double top pattern and the failure to break above resistance levels. • If the price fails to hold the support levels around $52,000 and $50,900, it may move down towards the correction zone between $42,700 and $38,600. • The long-term bullish trend remains intact unless the price breaks significantly below the main bullish trend line. • Alts will be stable while the BTC correction including it is dominance. • Alts will increase when USDT dominance will get to the correction level . I hope this analysis will help. thanks
Short
by Tdawly_Official
Bitcoin Dominance (BTC.D) is playing with our feelingsBTC.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 downward trend line and it's barely holding above it. It's hard to say what will happen at this point because I feel that the second rally of the cycle will happen relatively soon, and when that happens money will flow into BTC delaying even more an altseason. The closer we get to 66.5, the more optimistic I will be on putting money on alts. Don't hope the market does what you wish for - PAY ATTENTION to what the market is doing AND FOLLOW!
CRYPTOCAP:BTC.D
by crypto_cisco