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Bitcoin Dominance (BTC.D) - above 1st resistance RSI double topDaily candle close triggered a TV alert for me on the BTC .D with daily closing above the first marked area of resistance on the BTC dominance chart. Noting also the double top on RSI , perhaps time to see a bit of a slow down of BTC for a moment of consolidation, hoping we resist any significant pull back and hold above both this resistance and the 60k. Watching for possible signs of bull trap from here, and show of strength from the bears. Bias towards further bullish strength in the coming days and weeks. Does wisdom dictate that Alts get a run now? Watching with caution, trade safely
CRYPTOCAP:BTC.D
by jamoooo
Bitcoin Dominance Chart AnalysisPeople ask a lot about this chart, Bitcoin Dominance (BTC.D). Currently, we have some bearish action developing even though it is early on. We are used to reading early signals and this is pointing like a correction is about to show up. Check my latest BTCUSD for more details. Now, how far down can this one go? We are looking at a correction but not a bear wave/market, with this in mind we aim at a higher low. The 0.5/0.618 Fib. retracement level looks like a good support. This is also close to EMA50 which also tends to works as strong support. The RSI is already trending down after a lower high. Same with the MACD. This is all expected and we are not surprised. We need one final strong correction before Nov./Dec. If we really one to see $100K or beyond. This is what I see coming from this chart mixed with all the data that I have from reading Bitcoin for the past 8-12 months. If you agree or have a different opinion, share it in the comments section with us. Thank you for reading. Thanks a lot for your continued support. Namaste.
CRYPTOCAP:BTC.DShort
by AlanSantana
25
Bitcoin Dominance - when to buy altcoins 🤔❓Many guys ask what to do with altcoins, when is the best time to buy them? In this idea, I will show you the best place to buy altcoins! Bitcoin dominance is a very important indicator that can tell us when is the best time to buy or sell altcoins. Right now on the chart, you can see that bitcoin dominance is in a trading range between the 50 and 40 levels. The dominance is now rapidly moving upwards, which is not good for altcoin growth, so all altcoins are now either falling or in consolidation. There is a marked resistance area at the top of the chart, which could stop bitcoin dominance and would be a good opportunity to buy altcoins. But another scenario should be noted, if bitcoin dominance continues to squeeze near this area, it would signal a breakout and a continuation of the altcoin decline. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade.
CRYPTOCAP:BTC.D
by Yuriy_Bishko
10
BTC.D : A quick note on bitcoin dominance and altsCRYPTOCAP:BTC.D Hello everyone 😃 Before we start to discuss, I would be glad if your share your opinion on this post and hit the like button if you enjoyed it ! It is inevitable that at some points in the cycle, Bitcoin will outperform almost everything. With a few outliers of course. However, it's important that this doesn't change your game plan. Your game plan should already be set in motion. If you track your portfolio daily, both in USD and BTC, there are always fluctuations if you are holding a mixture of BTC, Alts and USD. It would be near impossible to maintain your portfolio's equivalent BTC value round the clock, unless of course you were all in BTC. I personally hold BTC as my base asset during bull runs (switching to USD at local tops or as near as I can) as well as moving to ETH as my base asset when ETHBTC looks set to out perform. However, it is inevitable that my alt coin holdings (spot) that I have accumulated will take a hit during a strong BTC run - so you may see your 'BTC worth' drop at times; However, I think of alt holdings like a coiled spring. When under pressure BTC, they bleed - and are suppressed. If you've accumulated at support, you need not to worry about the temporary drawdown in BTC, because in general alt coins out perform BTC in the right conditions, and so when bitcoin puts in a local top, altcoins regain their dominance and begin out performing. HOWEVER It is important not to be 'alt heavy' at times when the BTC dominance is at support. It is important to rotate the ratio of BTC:ALT:USD holdings to lessen the impact of alts bleeding at certain times in the market. For example, in January of this year, it was an amazing time to load up on altcoins given that BTC dominance was at resistance. We then saw astronomical gains in alts across Feb/March when BTC.D dropped like a rock. Then, in May when BTC.D hit support, the whole market tanked but alt coins got hit the hardest. Alts will lose value when BTC is volatile, in either direction. So it's important to balance the ratio of your holdings across BTC, alts and stables at certain times in the market. I pay attention to Bitcoin dominance more so for my spot holdings. For my trading account, every asset is simply a method of making a profit on percentage gains. So whether I'm trading BTC, ETH or alts - it doesn't matter as much. But for spot holdings, I generally want to cycle my ALT:BTC or ALT:USD holdings. When BTC.D is at support, I want to hold less alts. When BTC.D is at resistance, I want to load up on alts.
CRYPTOCAP:BTC.DEducation
by Helical_Trades
17
temporary dominance consolidationfirst ew chart. expecting btc dominance consolidation while speculators partially moving funds to alts as a part of the manipulation. once the btc market is ready and expecting it to be somewhere in august or mid september, smart money is about to get back into btc and fuel it to new aths. additionaly ltc could make some gains due to it's price lows, low transaction fees (unlike btc at the moment) and MW related hype. MW is not a huge thing, realising that and functions that xmr does better - it is possible that a transfer of funds from ltc to xmr might happen at some time this year. btc comeback will be fast and unexpected leaving speculators locked in alts. ride safe.
CRYPTOCAP:BTC.D
by grepcat
2
Bitcoin Season! BTC Dominance triple bottomBitcoin Dominance has just found a very Bullish Pattern, a Triple Bottom. I would expect BTC to potentially break the All Time high within the next 1 month, before correcting again down to the 44k level 1 last time. And then we may be in for a big long run up! Gotta Love Bitcoin Season, because it precedes Altcoin Season, another very fortunate time. I call the previous, "Bitcoin Season", although there really is no term for it. We used to think every 4 years, BTC would knock everybodies socks off and steeply incline, but that seems to be lengthening from 4 years to potentially up to 6 years (Jan, 2024). We won't know until it happens, although there is data suggesting this. I have talked about this before - having measured distances of random points in a 4 year halving cycle on Bitcoin (BTC halves every 4 years, meaning its production of new Bitcoin is cut in half, essentially limiting the supply(. When I measured, I only had a couple data points, but I came up with numbers between a 1.6x to 1.66x increase. This is how I predicted the bottom of the current BTC decline to be early-mid October. And how I came up with Jan 2024 for the actual peak. Altcoin Season happens after people pour their money back into BTC. It's almost like a slingshot affect, BTC springing up high, Alts dropping to lowest prices - prices here referred to each coins cost in Bitcoin. To see this, check out your favorite Alt/BTC chart. Then, during incline, Alts start staggering behind. When Bitcoin Peaks - we see the Alts rapidly accelerating, and when BTC crashes - the Alts just take over. They didn't peak until May 2018, 6 months after Bitcoins crash! Those who traded were rewarded, as Tron - an example - gained 7000% on Bitcoin. A lucky trader would have made 70x more Bitcoin!! Excited for the coming seasons - although I do think we will have to wait for the actual peak.
CRYPTOCAP:BTC.DLong
by Shwayze
How to Use the Bitcoin Dominance Chart to Maximize ProfitsIn this post, I'll be explaining a simple approach to the cryptocurrency market, and how you can refer to the Bitcoin Dominance Chart (BTC.D) to maximize profits. Disclaimer: This is not investment advice. This is for educational and entertainment purposes only. I am not responsible for the profits or loss generated from your investments. Trade and invest at your own risk. Bitcoin Dominance (BTC.D) - Bitcoin Dominance is simply an indicator that demonstrates the percentage of Bitcoin's market cap relative to the entire market cap. - When Bitcoin dominance is high, it indicates that Bitcoin's market cap is relatively larger compared to that of other altcoins, and vice versa. - So when Bitcoin dominance rises, it could either indicate that: - Bitcoin is rising at a faster pace than altcoins (during an uptrend) - Altcoins are correcting at a faster pace than Bitcoin (during a downtrend). - Vice versa, a drop in Bitcoin dominance could indicate that: - Bitcoin is dropping at a faster pace than altcoins (during a downtrend) - Or that altcoins are rising at a faster pace than Bitcoin (during an uptrend). - Understanding this, you can refer to the Bitcoin dominance chart to rebalance your portfolio according to market situations. Historical Price Action - Above, I've marked Bitcoin's price action (black), relative to that of ETH (blue), which represents the overall altcoin market. - The captions in the chart best explain the logic behind the price action, and how dominance is affected by it. - What's important to understand is that the situation is relative: a high dominance does not necessarily indicate that buying altcoins is a good idea. - It's important to understand the overall market cycle and structure to determine which regions are good entries. Anatomy of a Market Cycle - Above, we have the market cycle explained using Elliott Waves. - The market never moves in straight lines: It goes through phases of impulse waves, and corrective waves. - Elliott Waves also have very strict rules that must be kept. - Or else, the wave count is considered negated. - Here are the rules: - Waves 1,3 and 5 are always with the trend - Waves 2,4 are always against the trend - Wave 2 can never drop below wave 1’s low - Wave 3 can never be the smallest wave - Wave 4 can never drop into the range of wave 2 (unless it is part of a diagonal) - With this in mind, we can now take a look at where Bitcoin is, from the larger wave count. Bitcoin Market Cycle using Elliott Waves - We can start counting the wave from $3.1k, when Bitcoin bottomed out around the end of 2018 - Based on this wave count, it could be said that the move up to $64k was the end of the 3rd impulse wave. - We have recently completed the 4th corrective wave, and are on our way to complete the 5th impulse wave. - As to why I have selected the $200k region and June 2022 as my price and time period target, please refer to my previous analysis below: Conclusion Bitcoin dominance is currently forming a double bottom on the weekly. With Bitcoin's wave count lining up for an impulse move upwards, I expect Bitcoin to rally upwards, outperforming other altcoins in the short-mid term. As Bitcoin paves way for the entire crypto market cap by breaking through all time high levels in Q4, we could see Bitcoin dominance reach resistance around the 60-70% range. At that point, given that the broader market cycle isn't over, it would be a good point adjust your portfolio, and scale profits from Bitcoin into altcoins for maximum returns. If you like this educational post, please make sure to like, and follow for more quality content! If you have any questions or comments, feel free to comment below! :)
CRYPTOCAP:BTC.DEducation
by Michael_Wang_Official
97