UPDATE:08/01/2020 #BTCDominance will decrease very soon!UPDATE:08/01/2020 #BTCDominance will decrease very soon!
Bitcoindominance
Bitcoin Dominance TA Update (End of Alt-Season?)Bitcoin Dominance
BTC Dominance followed my downward target zone but right after it reaches a key support area. The price quickly shoots up piercing key resistances like a hot knife through butter.
A price gap is also filled in the mid 69.50 regions but that didn't stop BTC Dominance from sky-rocket above it came from. This market condition is hurting most if not all BTC Alt-coin pairings today.
Please trade with a stop-loss just below key support because once these areas are broken, further downside is likely the scenario.
We will have to wait and see when BTC Dominance cools down before entering any trade against Bitcoin.
Bitcoin Dominance - Anyday Now we'll freefallAnother BTC.D update, as we all know Bitcoin topped out earlier this year at $14,000 as well as the dominance after a 2-year bull run at 73% to the T.
The monthly level marked in white at 70.21% is the exact point at where the 2017 altcoin season started. It's not a coincidence that we keep trying to touch the 70.21% level.
Traders know that we can't break back above and the move is failing out, it's like the projectile motion of a golf ball. Sure you hit your drive 260, but at around 200 or so yards the ball starts to lose steam. That's exactly what's happening with the BTC.D . Anyday now it's just going to freefall just like it did in 2017.
Every altcoin chart looks the exact same right now, all are popping out of accumulation, or already have with 60%+ moves. Anyday now.. watch.
Then after the altcoin season when BTC.D falls and matches all-time-lows, Bitcoin will go crazy in price because everyone will cash out their no use case altcoins for the limited supply coin, Bitcoin.
As always please do your own research, I am not a financial advisor.
Bitcoin Dominance - RoomRSI is seen to be rising, with one more spike until it enters ovebought area, this may influence price and cause one more leg up before alt dominance begins to rise. Can to be seen to have formed a rising wedge.
Bitcoin Dominance TA Update (Minor Alt-Season?)Bitcoin Dominance
BTC Dominance broke bearish as the price closes below the support line signaling a potential retest of the 0.618 Fib level. This drop will give BTC pairing Altcoins a chance to recover from its loses a few weeks ago.
Altcoins will experience a short term season for probably a few weeks only. But still, use the proper risk management and place your stop-loss properly in every trade you open.
BTC Dominance TA Update (Short Term Pullback?)BTC Dominance
Bitcoin Dominance loses the 4-hour uptrend and now it is due for a Daily Higher Low to form between 0.5 - 0.618 Fib support level.
During its short term down-trend, BTC pairing Alt-coins will have an opportunity to gain back those loses from previous dumps.
This is where some Alt-coins will start pumping up to 60% move on a single candle. But still, be cautious as this market is still unpredictable,
use the proper risk management and ensure your stop-loss is placed accordingly.
Bitcoin Dominance in Mid-termBTC Dominance is continuing to form a bullish flag and the next target will be 78%, or more than 10%.
This is a terrible number for Altcoins' life. Holding Altcoin will almost cause loss.
Make sure the Altcoin you are intending to buy has a big reason to buy and make sure you have a clear, specific strategy for each possible scenario.
Bitcoin Dominance TA Update (More Upsidel?)Bitcoin Dominance
Bitcoin dominance is slowly approaching important key resistance or 0.618 Fib level. RSI is extremely on the overbought condition for the past 7 days.
When a coin reaches an area of confluence and the RSI is at extreme levels. There are higher chances of reversal to reload for another leg up.
Currently, there is no sign yet of reversal but expect it to happen within a few days. Bitcoin pair Alt-coins are hurt during bullish action of BTC dominance but when a reversal happens,
that is where they will outperform bitcoin again. Be cautious trading Alt-coins today, use proper stop-loss strategy and risk management.
Bitcoin bottomed or pospoted between Jan-May halvingWe're either at the bottom already or we're completing the Wave Z correction. I measured using Fibonacci Ratios as well as the subwaves. It's confluent with the January timeline. Remember BTC pumped January of 2019 and likely to pump again on January 2020 which is inline with the January effect on securities (investors/traders withdraw for the holidays on December then deposit and invest back at January where business is back and holidays are over -January effect). For the timeline now I see it pumping anytime within the 1st quarter of 2020 or early 2nd quarter which is also the May halving.
Bitcoin pump 2020 or 1st-early 2nd quarter pumpIf we don't pump on January 2020 likely it can happen anytime between the 1st quarter of the year 2020 OR at most 2nd quarter of 2020 which is the may halving. Also note that BTC corrected middle of 2019 June so possible that the maximum bottom will be on middle of 2020 which is May. Note that May is also the halving of Bitcoin.
Bitcoin-BTC Dominance end here or retracement continueWe either end here as WXY or we form a WXYXZ if we don't have that January effect thus BTC failing to pump. Note that I am forecasting BTC to pump on January. Following the cycle of BTC dumping from 2017 of December and bottoming 2018 December then pumping at January 2019. Please see my profile for that analysis
BTC Dominance TA Update (Temporary Top?)BTC Dominance
Bitcoin dominance broke bullish of this pattern but not currently setting up a temporary top as the price reaches immediate resistance between 0.5 - 0.618 Fib.
RSI also went extreme overbought condition, BTC dominance will have to seat back for the meantime to cool everything and retest the old resistance turning into new support.
During its cooldown, I expect BTC pairing Altcoins will have a short-term breather during bearish actions.
Bitcoin Dominance TA Update (Broke Bullish?)BTC Dominance TA Update
Dominance is looking bullish after breaking key resistance on the Daily Time Frame.
It might set a minor pullback to confirm resistance turned into new support.
If Dominance will set up another leg up, this will hurt BTC pairing Alt-coins in the coming weeks.
A look @ $BTC DominanceHere we see, even though the price of bitcoin has dropped, the Market share has risen quite considerably. People still see Bitcoin safer than Altcoins.
Bitcoin dominance will not last and even this being the top for now, but cant see it going above 70% where the star is placed 69.5%. Holding on to Alts seems hard but truly this is where the money is to be made in the next couple of years.
BTC.D BreakoutSurprisingly a strong linear regression trend can be drawn from the weekly chart on BTC.D, 0.92. Continuation of this upward trend is most likely now that the price has broken above the immediate resistance zone.
Altcoin Rally on the Horizon?Bitcoin market dominance has been making lower highs since September.
It is now testing the upper trend line once again. Momentum seems to be to the downside. If it breaks 68%, technically we could see a further 5% break to the downside.
Could this be budding a new altcoin run?
BTC.D Near critical resistanceJust a quick BTC .D fractal demonstrating the potential reversal point of the current short term uptrend. May reach 70+ before this occurs.
Bitcoin Dominance Update - An update from my last Bitcoin dominance idea, where I called out the dominance would top out in September then start to gradually fall before alt season.
I say this with confidence, I don't see bitcoin going any higher than 74% dominance. In September it topped a little over 73% and has failed over and over again to break that.
A lot of people are calling 90% dominance, and I just gotta say you're delusional. The daily hold at 69.92% was the absolute top before the 2017 'Altcoin season'.
For those of you that look at other charts besides Bitcoin , this chart looks exactly like the DOW and the S&P , both failing to trend higher and are at a calm before they hit the fan. Just look at the chart, it could barely hold its own above the daily, and now it broke it's longterm uptrend stending from the beginning of this dominance bull market.
My prediction is the Dominance will continue to struggle to hold this level, and even test the bottom of the uptrend before it really starts to fall.
From there, it history will repeat and there will be another altcoin season. Taking a look at all of the altcoins, they have all slowly and steadily gained satoshi value against the bitcoin in the recent month. This will continue happening and we will be in altcoin season before we know it.
I'm not saying Bitcoin is going to tank in price, to be honest this month I believe price will do exceptionally well, but the altcoins will outperform it.
Just take a look at every single altcoin on Binance, all of their charts look exactly the same. Ready to breakout of accumulation for the first time since the beginning of this year, or even since their last spike up more than a year ago.
As always please do your own research, I am not a financial advisor.
BTC.D Clear short term downtrendPossible short term reversal at 0.618 fib level. Learning these fib levels. 0.79 Regression downtrend.
LONG ZECBTCGood RR if you have size enough for scalping without it being a waste of time. Looks like the dominance is finally being let go by the powers that shouldnt be in crypto. Remember I called this almost an entire month ago which means that whoever did this prolonged the bear market by almost an entire month... If these forces were not at work we would be well in a ALTSEASON by now. Again Market makers can do one of two things. They can exacerbate existing market conditions or prolong the inevitable. This one was the latter.
God Speed Gents,
Mr. Manbearpig
Possible Bear flag Failure?Okay this looks really scary for those trying to short this with alts. If this breaks up above there meaningfully then all best are off and you might want to hedge by going short IOTABTC or ETHBTC. Its starting to look really crazy out there. Ill post up proper risk management strategy via video.
God Speed,
Mr. Manbearpig
