BTCD broke out from daily resistance#BTCD
Bitcoin dominance broke out from descending resistance line in daily time frame.
so it will go up to touch long term descending resistance line(red line).
after that it is more possible to fall down to support zone.
but if it break out from the weekly line!! oh we should think about it then!!
Btcd
🔥 Bitcoin Dominance Rising: The King Is Back?This week, Bitcoin Dominance (the percentage of total market cap in BTC) saw a sharp bounce from the same area which indicated the 2021 top last May, around 40%.
40% is a key area because this is the same area where Dominance bottomed during the 2018 bull-run top.
Since my long-term outlook is still bullish on crypto, I think that Dominance rising from this area might be a good thing. The same thing happened in September 2020 where Bitcoin saw several months of huge gains, followed up by crazy altcoin gains during the fall of Dominance in Q1'21.
On the other hand, Dominance rising is also an indication of investors becoming more risk averse and searching the safe haven of Bitcoin, see the 2018-2029 bear market.
In case Dominance will continue rising, you can expect overall less returns on alts, no matter which direction the market goes.
Happy trading!
BTC.D DominanceAre u ready ? .............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Update on BTC.D - SHORT till 33.75%* My original idea on BTC.D (BTC.D short till end-Aug, then long in Sep; see link below) remains unchanged.
* BTC.D has remained beautifully within the original channel.
* This update is just to point out the uncanny similarities in BTC.D's behaviour between this and the 2017 bull run.
* If BTC.D behaves the way it did in 2017, then it will follow the current channel down to 33.75% (1.618 fib between bottom and top) by Nov/Dec'21.
* Though I've my doubts regarding the timing, I've significant confidence that BTC.D will continue it's descent.
* Let's sit tight. Be patient. And monitor both BTC and ETH's monthly RSI.
BTC Dominance - what to do with altcoins 😱Bitcoin is going down. At the same time, bitcoin dominance is going upwards. This is bad for altcoins. It is very likely that BTC will continue to decline and could collect stop losses below the local low of $42,850. At the same time, altcoins will fall several times harder.
Before that, bitcoin domination has broken and tested the trend line as support. BTC.D has now broken the important level of 41. The dominance could go further in the marked scenario.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
BTC.d -Bitcoin dominance -Do we sell Alts positions? or we hold?Based on my analysis, i think that it is better to be super attentive on Altcoins.
1- Dominance is in a very sensitive zone, 39.8% is a strong support
2- If it bounces above this support, the Alts will bleed
3- If it bounces below it, the Alts will continue to rise.
BUT,
The dominance had been decreasing for more than 40 days , and most of the Alts went crazy.
SO,
I think that most traders made a lot of profit with Alts, & in my opinion, it is better to secure your profit, and sell your Alts positions ( except the one you are holding for a longterm), and hold a big bag of USD.
The probability for the dominance to go below the support is low, so i believe that it will bounce back, and the Alts will go down, and we will have the chance to buy more Alts for a discounted price.
ALWAYS DYOR - NFA
BTC/D DominanceAre u ready for Next Alt Season ? .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Dominance of Bitcoin BTC.D after 07 09At the moment - after the red candle 07 09 2021, the domination jumped, which is logical.
But you can ask yourself the question - is the dominance of 42.21 enough - to continue the rise in the price of bitcoin?
If the dominance of bitcoin does NOT grow, it will not be able to stand still for a long time and will roll down in a very short time. Even if we assume the growth of bitcoin without the growth of domination.
I expect a splash of domination upwards. Since I suppose that there should be a "fuse" for the further growth of bitcoin - and a further fall in domination.
I expect a splash of domination upwards. And this rather means that the correction awaits us in the future.
And as it happens to me - the idea must be different at first.
But I noticed a domination patch - which is very similar to the current situation.
And oh my god, I realized that this is a well-known coronadamp in March 2020.
yes, you probably saw the pictures of BTC \ USDT where this site is viewed.
Earlier I rejected this similarity to the pair against the dollar. But by domination, this site was striking.
I do not want to assume price levels. But it looks like the correction may be more than many think.
Another drain is more likely - a sharp but rather quick recovery.
Also in this idea of mine I again fell into the trap of "spring 2022". I have already published ideas on BTC on my channel - and I am considering the option of the peak in spring 2022 as an alternative option, to the option December 2021. I still have not solved this dilemma and domination only adds ambiguity.
In any case, I do not consider the current market to be bearish. And I expect ATH bitcoin 93-102k dollars per BTC by December 2021 (priority option) \ spring 2022 (my next priority option).
This is the idea. and Alas, she also leaves questions. You can write your thoughts in the comments.
Additional descriptions on the chart.
BTC.D DOMINANCE Should be dump here and pump For Alts ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
BTC.D Dominancesoon BTC.D will dump and Last Alt season starting ,.....................................................................................................................................................................................................................................................v,.................................................................................................................................................................................................................................................................................................................................................................................................................
BTC.D currently at critical levelBitcoin Dominance has been consolidating around 0.5 fib. We are just about to test the trendline resistance. If the trendline is broken, we can see a 50% - 61.8% correction of the recent downward movement followed by downward trend continuation. Though there is also a possibility of retesting the previous support of galling wedge.
Depending upon how this plays out, I will be looking forward to pick some altcoins accordingly.