Where is Bitcoin Dominance headed?CRYPTOCAP:BTC.D 1W chart;
Bitcoin Dominance has been moving horizontally at the same level for 3 weeks.
Let's not forget that the chart is weekly.
Although I think it will most likely return from the 58.25% level , I also stated that it may be better to go down after at least testing the 62.52% level above. The reason is that this will be very useful in the next bull cycle.
Considering the immediate level, it will start a downtrend with a close below the level indicated as +OB .
The noteworthy point here is the orange circle; the Golden Cross formed by the combination of 50EMA and 200EMA . This is a bullish sign.
However
After such a deep and prolonged decline, it would not be right to expect the chart to change direction and rise with the first Golden Cross . For this reason, I should mention that the level around 47% is important.
If the 47% level does not break sharply downwards, it may use this as support and start rising. If it breaks, we may see a decline up to 40%.
Bitcoindom
Alt Dominance about to BreakoutThere's a falling wedge with a failed breakdown on the 3 day chart. That failed breakdown highly increases the likelihood of a successful breakout. RSI has been diverging from price, and that divergence recently strengthened.
Bitcoin dominance recently bounced from the top of an expanding wedge and looks like it wants to head down, finally making its new ATL:
Could this be the time for alts to make strong gains against Bitcoin before the next halving run begins?
BTC DOM (UPDATE) - Alt Season Is Officially Here The last major support is broken and BTC dominance is tanking at rates not seen since last bull run - highly unlikely we will go down all the way in a straight line so expect some sort of bounce, as to where that will be is hard to tell as there is basically 0 support until 35% so it will rely entirely on the natural market movements.
Getting to the lower part of the channel its been respecting for a couple of months - if we see a break it will only drop at a faster rate.
SEE PREVIOUS BTC DOM POSTS
Bitcoin Dominance might continue dropping to 39%Bitcoin Dominance might continue dropping to 39%
yesterday i published an idea about the Total2 (Crypto market-cap excluding Bitcoin) it was featured by Tradingview as a Editors Pick. you should check it out!
today i am looking at the Bitcoin Dominance chart to hopefully see how it correlates with my findings in the Total2 chart.
we can see here a ascending triangle which usually breaking to the upside 70% of times but we can see it broke down.
knowing that the break down target should be most likely nearby the low of the triangle i used Fibonacci tools to find confirmation for a target nearby. The Fib retracement helped me identify the obvious target of 39% which seems to be also confirmed by the Fib Circle.
So now i have 3 tools pointing me to the same target. Giving me confidence this could be in play.
Time will tell.. lets see..
Bitcoin Dominance, Negative Breakout, FlippeningIts the time for altcoins!
Some mention 'The flippening'
If there is a time to do it, it would be now or soon
Bitcoin dominance will breakout downwards of formation
I found an indicator called "Pi Cycles" aswell, applied this to BTC and suggests a top is near
In the past this indicator seems quite reliable
Lets see what happens
Stretching BTC DominanceETH is in an ascending broadening wedge
BTC.D is at the top of a descending broadening wedge
As a major altcoin I expect ETH to move in the opposite direction of BTC.D
Ultimately however my belief is that ETH will be carried to the top by bitcoin
It's either that or a flippening, and chaos would ensue if that occurred, unneeded chaos..
#btc.d #1h #bitcoindominance #btcdominanceHi guys..its the latest analyze chart of BTC.D in 1 H timeframe(folowers Requested analysis) .if you are interested any crypto that you want analyze with me and any questions please do not hesitate and comment below the chart!
if u like it press like-comment and folow me.thx
Possible bearish retest for BTC.D looking good for Altcoins?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. You should always do your own due diligence before trading or investing.
*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.
Both scenarios could happen (Bearish , Bullish)My guess is the move coming is going to be massive compared to the low volatility we have seen recently
Personally i am bullish on BTC dominance I don't think Alt coins are ready to flourish in their current state and will see some 'coin killing' based on the maturity in comparison to the dot com bubble.
This is a very interesting intersection for TA.