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Bitcoindominance

Bitcoin Dominance Ready to Drop!!?Once again we are discussing the very important BTC dominance, the reason of why this is being brought up over and over by myself is due to the fact that this is the best indication of where the market is headed and most importantly where the altcoins are headed. If we continue to see drops in Bitcoin dominance each drop is going to significantly boost the altcoins, keep in mind that Bitcoin is likely to drop if we see a spike down in dominance in turn bringing the alts down with it, but heres the catch.. initially the alts will bleed along with BTC but once we see a settle and catch support for BTC the altcoins will be primed to breakout and rally to the upside. we have broken through the 42.62% support level and we will need to hold under here for our daily close and we are coming up on our next support at 42.36%, a decent support level with some strength, but what im seeing right now could be pose a big threat to this support level which is exactly what we want, and that is, the bollinger bands. As you guys probably know by now grabbing onto the bottom band can trigger an explosive move to the downside. Our current price levels are resting right on that bottom band and as we head into our daily close this could be huge for altcoins, a close ontop of this bottom band opens up the door for continued red candles that will likely push down in a vertical manner in turn shredding through most support levels we are currently facing. The RSI has been rejected off of longer term downtrend resistance, we are now heading for the further downside and the very bottom zone, this resistance level poses a threat to the RSI as it is very strong and could definitely give the RSI a lot of problems when we try and break it at a later point. Overall this is very good aswell though and the main thing is that we are continuing to cruise around in the bottom half of the zone underneath the midline, being under the midline puts us in a confirmed downtrend scenario that could go on for quite some time, and downtrend in BTC.D equals explosive moves for the alts. Now the MACD, i have it zoomed in pretty far so we can get an accurate read but we just recently had a bearish cross which is a good sign and we are seeing day after day increased red bars on the histogram giving momentum to the bears, our MA's are looking good off the bat we are seeing good separation and we want to continue to see this play out as itll get harder and harder to get a bullish cross. Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BITCOIN DOMINANCE EXPLAINEDTo be successful in crypto you need to know how the market works and why it’s behaving like it is. Bitcoin is the first ever cryptocurrency and will be the biggest a long time. This means that what bitcoin does will have a large impact on the market. But there are also times where every coin does it’s own thing. Here is where Btc.d comes in. Simply put, when bitcoin dominance is high, it means that almost every move is similar in the whole market. While when it’s low, we don’t need to worry too much about what bitcoin is doing if we see a good trade in some other coin. We can take advantage of this! Btc.d is surprisingly accurate with technical analysis. In the chart you can see two boxes where I would either buy bitcoin or altcoins. You still have to find good setups and everything, but it gives a good indication of it’s either altcoins or bitcoins time to shine! Good luck traders! Leave a like if you found this helpful <3
CRYPTOCAP:BTC.DEducation
by SebLeDank
2
BTC Dominance - 2017 vs CurrentBitcoin Dominance charts are shown with the left being the current market and the right being the 2017 market. Could we be playing out a similar BTC dominance but with a longer cycle? The upcoming days will tell if this is true or not. I thought it was interesting to share with the community. What are your opinions on this? Comment below, hit the like and follow me. Thank you! Check out more below for recent Altcoin, Bitcoin and Stock Ideas. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
CRYPTOCAP:BTC.D
by MillionaireEconomics
1
ETH still needs to retrace some before cont. up for macro wave 3ETH still needs to retrace some before cont. up for macro wave 3 up. I think we will see an extended wave C down to at least the 1.236 ($4294). That last drop had heavy volume. I think we we soon see more volume in a downward trend. I've been toying with the 128MA (black line). This MA, historically, Has been strong support or resistance in the past. Eth has crossed it on the 1hr and approaching it on the 4hr with this ABC correction. BTC on the 4hr has hit this support twice in the last 3 days. Both Eth and BTC are struggling to stay on the upper side of the Bollinger band. With the previous high we saw coupled with a lower RSI (indication of the top of wave 5 and the beginning of an ABC correction) I believe downtrend is immanent. I think many other alts are in the same pattern. Total Crypto market cap hasn't dropped much during this dip. It currently sits at -6% from ATH. BTC dominance is dropping. These two together indicate money could soon begin to move from BTC over into alts during this dip.
by tsbirch1
2
BTC Dominance is ready to going up?🚀Hello, friends😊 Bitcoin Dominance is a measure of how much of the total market cap of crypto is comprised of Bitcoin. It can help you understand the trend of BTC and alts. See the current Bitcoin dominance. The most important thing about Bitcoin Dominance is that it can help you understand if altcoins are in a downtrend or uptrend against BTC. When BTC Dominance goes up, alts, on the whole, lose value against BTC. When BTC Dominance goes down, alts on the whole, gain value vs BTC. This means in most cases you’ll want to be in Bitcoin (or cash) when Bitcoin Dominance is in an uptrend, and then want to be in alts (including ETH, large caps, mid caps, low caps, etc) when Bitcoin Dominance is in a downtrend. Of course, Bitcoin Dominance can have different implications on different time frames, and it is ultimately only one tool in a trader’s toolkit. In short, though, it is important to learn how to read the Bitcoin dominance chart. Luckily it is only a click away at TradingView. 😉Also this is just one indicator in order to make a accurate prediction on the market you should always do your own research and make sure to provide yourself with many indicators when it comes to your trading choices. 🧐What do you think about the correlation between bitcoin dominance and altseason is it true? Click 👍 + leave your comment below!♥️ Thank you for staying with me💋 Always Sincerely With You 😍 Your Rocket Bomb🚀💣
CRYPTOCAP:BTC.D
by RocketBomb
9
Daily BTC Dominance UpdateOn face value it would appear that BTC has broken the short term downtrend against the market, but we need to pause and have a closer look. There is a good chance that this is just a small pull back from the trend before continuing down. I've used the 4hr chart today so it's easier to see what I'm talking about. There is a line of support and resistance (dashed line) that the price has just crossed and I've circled where it's reacted to this level before. I think that there is a good chance that this "rally" is simply a re-test of that level. Looking at the BTCUSDT chart price action has also hit the upper part of the consolidation zone and I would expect that profit-taking is likely to occur at this level. So I'm expecting BTC to have a quiet day today and possibly even resume it's decline against the rest of the market.
CRYPTOCAP:BTC.D
by marcusdw1
BTC.D - Market Update 08.11Hello Traders! The dynamics of altcoin purchases in the market are shown by the decrease of Bitcoin dominance on the chart. More and more investors are choosing riskier assets instead of Bitcoin. After two attempts of breaking the support level of 40.12, there was a pullback on the chart. At the moment, the chart shows a continuation of the decline and a possible third attempt to break the 40.12 support level. If capital starts flowing massively into altcoins, the price value on the dominance chart will fall into the 36.28 - 40.12 range A massive altseason took place in this zone in winter 2017-2018. But we should not forget that this was the market reversal range. Do not forget to fix profit! Good luck and watch out for the market P.S. This is an educational analysis that shall not be considered financial advice
CRYPTOCAP:BTC.DLong
by UnknownUnicorn10064030
BTC Dominance - What Party Time is it?Bitcoin dominance has violated a supporting trendline in the one day chart. In an ideal scenario this could send BTC dom further down - giving alts momentum and strength for a short period of time before inevitably bouncing back up. Another scenario shows a sideways movement of BTC dominance which would indicate the market remains choppy and undecided. A last scenario shows BTC breaking back above the trendline and taking away strength from alts. Neutral, until confirmation of breakdown or up.
CRYPTOCAP:BTC.D
by UnknownUnicorn28488832
2
Bitcoin Dominance About To Fall Hard!!?Altseason could be rolling around once again just by the looks of this BTC dominance chart, we aren't showing any signs of a climb back up and thats exactly what we want. we have taken out key support levels on our first fall and we are eying the 43% level for our next target and the altcoins will love it! If we look at the bollinger bands we notice one very key thing and thats the constant wicking onto the bottom band, we are getting closer and closer each day and in a matter of time i believe we are going to grab onto it and take it for a hard fall to the downside which happens almost every single time we see price action grab onto this band if we do see this hard fall my thoughts are that BTC might drag some of the market down a little bit initially but once we settle down we can definitely expect the altcoins to go on a big run and the further dominance falls the further the altcoins are going to fly! in 2018 we saw the peak of altseason around 35% dominance and we are still quite aways away from that point, about a -20% fall actually and i can't even imagine the insane gains the altcoins will have if this happens with ETH leading the pack also keep in mind ETH dominance will almost certainly rise and have more of a grip on the overall market. The squeeze momentum indicator is still in a bearish squeeze which is very good and we are also seeing once again a significantly bigger red bar on the histogram showing a rise in bear momentum, the longer this goes on for the more build up we will have for the squeeze release which is usually explosive and will likely shoot the dominance down significantly and also pair that with us grabbing onto the bottom bollinger band and we have a recipe for an explosive altseason or atleast the start of one! The RSI aswell like i talked about, i said there is a good chance we see a bounce off of the first support level before then falling through and we are seeing exactly that with us approaching the 2nd support coming up soon We coud see the same thing happen where we get a bounce and maybe some sideways movement before then hopefully falling further, technically with us under the midline for some time now we could be in a confirmed downtrend but i would like to see us spend a bit longer under this level before really saying we are. Another possible scenario is that we could see price action bounce off the 43% level and start to rebound a little bit in sort of fakeout fashion before then continuing the fall to the downside, our RSI would still likely be in the lower half (confirmed downtrend) coming up slightly before then dropping again! I think there is a good chance this happens at some point but i think itll be a fakeout scenario, think we could see something along the lines of a strong 1-2-3 move to the downside and thatll be the definite point where we could say we are in a confirmed downtrend and the alts will absolutely fly! Not financial advice just my opinion!!
CRYPTOCAP:BTC.DShort
by JacobR905
2
BTC Dominance Update!!Little update for our Bitcoin dominance before we head into the weekend and the very first thing i notice and that ive been talking about the past couple TA's is the current support level at 44.68 we aare once again seeing a push below here which is going to be key if we can see a daily close again under this level, will add to the already bearish pressure on BTC, and will significantly boost the altcoins if we continue to drop and will open the door for an explosive altseason, although we do need to fall much lower in my opinion to get that super altcoin cycle. I talked about previously, in 2018 at the peak of altseason we saw a bitcoin dominance push all the way down to aprx 35%, i am looking for something similar here, obviously going to be a longer process but of course is doable. There is also the chance we see a further drop past 35% dominance due to the simple fact that crypto as a whole has grown tremendously and especially altcoins, theres a chance you were hearing about bitcoin in 2018 but majority of people had no idea about altcoins and even BTC for that matter, pair that along with the massive institutional adoption and exposure this could shape up to be an altseason like we have never seen before! Atleast im praying lol! Now lets take a peak at some indicators and we will start with the bollinger bands, we arepushing well below the midline which is now resistance and we are getting somewhat close to that bottom band, we have had a few wicks down pretty close to it and if we do manage to grab on it will likely ignite a bigger drop, taking out many resistances on the way down, if we do see this play out we can definitely expect altcoins to really take off, there is a chance that BTC will drag the market down initially but once we find some footing or settle thats when majority of altcoins will begin the takeoff! Now the RSI as i always talk about that midline is absolutely crucial, in this case we want to see a further push down below and for it to stay in the lower half, in turn we will be considered in a confirmed downtrend and could definitely be a prolonged one and of course this will be great for the altcoins! We do however have some support slightly below our current level and then a little bit further down, these levels are not very strong at all, we could see a bit of sideways movement along them but i doubt it will last for very long and they definitely will not hold up if we do catch a big slip on that bottom bollinger band! Lastly the Squeeze momentum indicator, in my last TA i went over the chance of us pushing past the midline and into the bear territory and we have done exactly that, we are on our second red bar and it is significantly bigger than our first one, this shows there is a clear rise in bearish momentum and this will likely play out to be a bigger bear squeeze. The black crosses indicate the squeeze portion of this cycle and the longer we stay in a bear squeeze the much more explosive the sqeeze release will be, and that is indicated by the black crosses turning white and you can refer back to the previous bull squeeze we just went through to see the explosive affects of the release portion of this indicator, overall for this indicator the main thing is that we keep seeing increasing red bars day after day putting lots of power in the bears hands and ultimately seeing a big drop in BTC dominance! Not financial advice just my opinion!!
CRYPTOCAP:BTC.DShort
by JacobR905