Bitcoin Dominance - BTC.D Wave AnalysisTarget of 61.8% from ATL = 74.78% Marketcap Dominance, after that retracement to 67.18
Btcd
Market Cap BTC Dominance Breaks Support (Where To Next?)BTC Dominance (BTC.D) just broke and closed below our main support EMA10 (72.41), sending out a bearish signal.
We are seeing increasing bearish action and a top formation when the last peak produced strong bearish divergence with the MACD and RSI.
The major trendline holding BTC.D has also been broken.
The next support levels are marked in the chart with dashed blue lines.
Conditions for change
If BTC.D closes above 73.55 with good strength and volume, the above signals become invalid.
Longer-term analysis for the Bitcoin Dominance (BTC.D) chart:
Namaste.
BITCOIN DOMINANCE TOPPED OUT - ALTCOIN SEASON IS OPENWe are witnessing a very top of the BTC dominance, it could be either a long term decline or a strong corrective move down.
Its time to earn some bitcoins, this correction is expected to last 2-5 months.
Get in Alts early... not an advice, but something that I did ))))))
PROFITS TO ALL!
BTC Dominance Facing Resistance Soon! (Where To Next?)BTC.D has been moving higher and higher with only a few weeks stop in between each new peak... But it seems that it is running out of steam.
Bearish signals coming from the chart
We have low and decreasing volume.
Bearish divergence showing up on the MACD and RSI.
Strong resistance ahead.
RSI Overbought.
Our main scenario is marked with arrows on the chart. The situation can easily change if the next resistance at 74.84 is broken with good strength and volume.
If BTC.D fails to reach 74.84 and close above it, it is very likely to move lower as shown on the chart.
On a drop, the first/main level to be tested would be 69.11 or EMA10. A new update will be shared based on how the charts behave.
Thanks a lot for reading.
Namaste.
BTC dominance to correct? possible 5 wave structure with subsequent ABC correction.
for educational purposes. not trading advice
clearer on the monthly chart that we are in over bought territory
Bitcoin Dominance - How Long Can It Stay At These Levels?It is a tough one looking at the alt-coin market knowing that Bitcoin is still high but alt-coins still not thriving. The lower these altcoins do go the higher the dominance will remain, or maybe even go up further.
BTC.D - alts going to recovermany of altcoins found their bottoms. but always have stoploss in case things go against your will.
Bitcoin Dominance SUPPORT LEVELS to watchBTC.D is likely to return to the mean after testing the upper trendline of the ascending channel. it could take time, but I'd expect the main downside corrective wave to start in November. It could last approximately 2 months after which the btc dominance would continue to rise.
BTC dominance % Mar 2014 - 99.38%
Nov 2015 - 98.84%
Jan 2018 - 37.26%
Jul 2018 - 50.25%
Aug 2019 - 70.20%
Oct 2021 - ?
BTC.D: potential BTC dominance declineNov 2015 - last peak of BTC dominance
Aug 2016 - halving 2016
Jan 2018 - last dip of BTC dominance
Aug 2019 - 4 years minus 3 months(halving offset) from the last peak of BTC dominance(which is potentially the current peak of 70% BTC dominance)
Nov 2019 - 4 years percisely from the last peak of BTC dominance
May 2020 - halving 2020
2nd leg of decline could be just across the corner
Bullish Shark for BTC.DReaching our C target of 70.76
BTC.D is looking overextended and broke downwards out of the rising wedge and 70.76 can be treated as a retest.
There looks like a bull flag was formed from legs XAB, but I am not confident in it because of the rising wedge.
When BTC Dominance DownHere is a patter that should confirm the correction. Prior to that the uptrend trendline (the mean) has to be broken, which could be the very start of correction.
Long Term View on Bitcoin DominanceYet its unclear whether BTC will take over most coins and go back to 80% or higher dominance. But fundamentally it just seems pretty unlikely. This week/month closing price should play very important role in further price development. And I'd expect some nice spice to be produced, before/if reversing to the downside.
Bitcoin Dominance Back to 50% is ImminentMost are now are all in Bitcoin, especially considering BTC.D growth. This is market panic, which does result in a lot of money being moved from alts to Bitcoin.
But this is exactly when smart money goes in. The market pshycology tells me, that this is perfect time for BTC.D to start reversing. Nevertheless, the it could be too early for the Alt Season to start.
I'd expect it to BEGIN at the end of this year.... or, to END by the end of this year. Soon we'll find out, but I am holding my alts long term.
Now you might ask why BTC will lose so much dominance. Well, BTC is a store of value, a long term "GOLD" investment. But, blockchain continues to develop with mass adoption on its' way. This will stimulate the growth of other chains and capital will be slowly distributed. People don't like to keep all eggs in one basket, even if this is a basket of Gold. They will buy Silver, Diamonds, Property etc simply to diversify.
BTC.D SHORT Bitcoin Domi has officially encountered a problem here and in my opinion it will reduce the BTC price will go down slightly.
BTC.D showing control until August 8thSlight retrace coming in before rocketing up to complete D of our BAT
Time for ALT DominationMedium term, Bitcoin could start losing dominance, giving some room for growth to alts
