This end of the year bitcoin will show why is the #1We have the famous double bottom that everyone is talking about.
I mark a horizontal resistance that in my opinion is where it will stop shift to the upside. However, if we cross the line with high volume there is a chance that we see a continuation.
If the latter happens I believe that it will end up somewhere inside the rectangular area. There is a lot of volume on that region an it could ether be what it stops the trend or where it consolidate and move horizontally.
Dominancebtc
Btc dominance will top at 52 percentWe have a divergence in monthly Rsi
Which will end if btc dominance reaches 52 percent.
If history repeats itself in fractals, dominance pullback will be to fibo level 0.38 and almost 0.5
Which approves the monthly divergence
So a possible fractal and a monthly divergence
Bitcoin Dominance is bullish So Altcoins will Red more#Bitcoin Dominance Chart:
#BTC Dominance bullish above 43.60% and this will be very bearish for #Altcoins
I am expecting Some relief in Altcoins so we can see some retracement in Altcoins.
if 2D candle close above 43.60% then #Alts will be bearish.
Altcoins Now Entered In Bearish zone because Dominance Broke out#BTC Dominance Chart Update:-
#Bitcoin Dominance broke the resistance.
And trading above 42% which is Bad sign for Altcoins.
Now..?
Above 42% is not good for Altcoins.
We can see Altcoins drop.
And next resistance is 44.55%
Again if Dominance go below 42% then good otherwise Altcoins will be bearish.
Good entry in Altcoins will be when Dominance hit 44.50%
Support:- 42%
Resistance:- 44.50%
BTC DOMINANCE is bouncing, Bad news for Altcoins!Hi there,
Bitcoin Dominance is bouncing and this is not good for Altcoins at all.
BTC.D was moving in a downtrend channel for about 50 days and I expect to see a breakout of that.
What will happen?
In the best case when BTC.D is going up if Bitcoin goes up too, Altcoins will fall with a low slope.
In the worst case when BTC.D is going up if Bitcoin goes down, Altcoins will fall rapidly.
So In my idea this is a bad time to be with Altcoins, Also Altcoins growth a lot in the past 50 days and these prices are not proper to buy for next leg up.
Be carful with your trading and investing.
Your Likes and comments are the best Thank you.
ALTSEASON CONTINUE OR NOT? BITCOIN DOMINANCE UPDATECurrently, Bitcoin dominance is at the decisive point. It is trading in a falling wedge pattern and hovering above 41%. The strong support for dominance is 40% level. If bitcoin dominance breaks the 40% level then we will see a great alt season of all time. There is resistance around 42 levels if it breaks the 42% level then Alts bleed in BTC pair and show the big correction. IMO we should break this 40% level and witness a great alt season in Q4.
Support:- 40%
Resistance:- 42%, 45% and 49%
Let's see dominance breaks the 40% level or not. Keep an eye on 40% and 42% levels.
If you like this idea then do like and comment. Also, follow me for more updates.
You can also follow me on Twitter:- @core_crypto1