Bitcoin Dominance - GOING DOWN!! Should this H&S pattern play out we might see some nice ALT gains next week!! :)
Dominancebtc
BTC dominace will stand up?Hello, traders.
BTC dominance keeps slumps after every bull attempt to gain market cap, and the price is inside on what it seems to be a bearish downtrend channel.
But if the price goes above 62 regions we can imagine that this downtrend will be over and the price will make a bear trap on that major support level, and after that, they gain market cap consistently.
Best Regards.
BTC.Dominance going up for pullback & altcoins for correctionBTC is about to make a bigger trend move either UP or Down the Altcoins are going for bigger correction soon. Opportunity to rebuy at lower prices for the ready ones. BTC 13k or under 10k move. Be ready
Raising Wedge in the BTC Dominance chartThe bitcoin dominance chart has a short rebounce, but the pattern of a raising wedge is bearish. I expect it to break down and for altcoins to rally harder
$BTC #BTC #DOMINANCE ALTSEASON IS COMING? DOMINANCE IS GOIN DEEP ALTSEASON IS COMING? DOMINANCE IS GOIN DEEP
BTC.D 1H chart looks like double top for me with small bearish divirgence on 1H stoch, MACD looks the same direction
Considering my plan for BTC, I'm looking dominance to go back down this time, giving breath to alts.
Bitcoin Dominance 5D Chart Shows Downward TrendDespite the attempts of Bitcoin Whales and Maximalists to maintain Bitcoin as the number one crypto... the market seems to be moving towards altcoins more and more.
As new projects form... old projects evolve... and new money floods into the crypto market... it seems inevitable that the 'altcoin' market cap will increase relative to the bitcoin marketcap.
That's not to say the Bitcoin Whales won't fight for their prized possession. Through various market manipulations and maximalist shenanigans, they will attempt to bolster the price of bitcoin with large upswings in the price of BTCUSD expected.
Follow us for analysis as the crypto markets evolve over the coming summer and US elections and towards the new year.
BTC dominance (Y20.P3.E26).MACRO. Coming to a volatility areaHi All,
BTC dom just did a bounce with a bullish divergence.
Question is how much of a bounce its going to be? Difficult to say.
I think it will go sideways and hence volativity in the coming days.
Ultimatelly I have it headed down to 55% or so.
Daily Chart
BTC Dominance at MONTHLY RESISTANCE Sorry, Guys! I was busy, that is why I was unable to post any analysis.
Okay, Today's Analysis are very very very IMPORTANT, as it dictates the crypto market.
Bitcoin is the mother of all cryptos, if it moves, let's move accordingly.
First, let me give you the concept:
CONCEPT:
When the dominance of Bitcoin increases, the dominance of Altcoins decreases having mid to low cap. More bitcoin dominance means more people are investing in bitcoin. This means that market is investing in bitcoin and withdrawing their assets from altcoins which causes the altcoins to drop.
Let's understand the supply and demand concept.
For Bitcoin:
Supply = No. of bitcoins
Demand = No. of buyers
Now, currently is a demand for bitcoin has increased means more buyers are there in the market which directly pushes the dominance of bitcoin and ultimately leads to an increase in its price, and supply is becoming less.
For Alts:
Supply = No. of Altcoins with there supply ( More than 1000 alt cryptos with billions of supply )
Demand= Again the buyers
Now, as the Supply is immensely huge in altcoins but the buyers have shifted from altcoins to bitcoin causing a decrease in demand of altcoins, which lead to increase supply, and that caused the price to the dropdown.
That's why the price of ALTS has gone down.
Big Alts Like ETH, XRP having large Market Cap follow Bitcoins, but Mid to Low cap coins have a reverse effect of bitcoin dominance.
I have tried to educate you guys, I think you have got the idea of how Crypto Market works.
Chart Analysis:
Right now, Bitcoin dominance is between the Weekly Zone 61.98 and Monthly Zone 64.40. From 13 July, three candles have been into this zone and have been rejected by the support at 61.98.
Also, see how the Trend lines T1, T2, T3 are being respected. We might see some retrace back to 61.98, in that case, Alts are gonna PUMP BACK, if anyone holding the alts can exit during the retrace of bitcoin dominance.
Those holding Alts, don't panic, wait for the btc dominance to retrace back a bit.
BTC dominance is converging, so right now it's not stable. Let it find the support and resistance and be stabilized, then the alts will be back.
If next week the btc dominance candle breaks the monthly level 64.40 and a new candle is formed above this level, then BTC gonna pump more and Alts are gonna DUMP more.
If Btc retraces back from this level, we gonna see the pump of Altcoins.
Thanks guys,
I hope you have got the idea of how Bitcoin and let's work in this crypto market.
BTC vs BTC Dominance. Price - Dom correlationGreen areas are where both BTC price, and BTC Dominance increased.
$BTC Dominance reached 60% (historically a strong level)$BTC Dominance reached 60% (historically a strong level) & only crossed down once during the 2017 bull run...
Willing to see how this evolves, red trendline on the daily chart should be a warning for Alts party...
Dominance, A warning for current Altcoins party?Dominance crossing the red trendline to the upside should be a warning for current Altcoins party...
Rejection should lead to a continuation toward ~60 level & Alts Rally.
BTC. D. Falling wedge on the hourly.BTC.D. Falling wedge on the hourly. Precarious support identified with the boxes. Despie this I am expecting BTC to hold. Expecting some upside and ALTS to correct.
Dominance analysis 3DBitcoin Dominance Percentage 3D
Dominance is currently stuck between the 50 and 200 MA.
If we can break down this level by force, it could initiate the first serious Altseason in a long time.
BTC Dominance on the edge #BTC Dominance: once the support trendline was lost.. Alt-season sparked.. however RSI low, Stochs low.. could see BTC dom bounce..
meaning ....
a) BTC dumps and Alts pump harder..
or
b) BTC pumps as Alts go sideways
Dominance Dump ! Btc ? #Bitcoin #crypto #btcEven on the 1 day dominance chart for Bitcoin we have now hit a TDSeq9 in red - are whales playing here ? Are the whales coming out of their alt positions soon ? Will Dominance finally rise ? I believe we will see significant rise here by the end of July . See my previous idea below . It's still true - we've just now moved to the higher timeframes.
250% Alt market Cap against BTC market Cap on Jun 2021 As you see I did Calculate the AltCap/BTCCap by BTC Dominance CRYPTOCAP:BTC.D .
The rate has just break the 2 year down trend. I predict we will be On 0.78 on Nov 2020 and 2.48 in Jun 2021.
If you are interested please send your comment and share this idea.
#BTC Dominance breaks! Altseason continues until this happens!Welcome to this quick update.
Thanks for the unmatchable support you've shown so far. Keep supporting if you find my work deserving.
1. Dominance broke down an important support level which held for the last 122 days.
2. As per fractals it should fall for approximately -5.88 % to the lower green support level from here which will result in anther alt rally for the next 4 to 6 weeks.
INVALIDATION POINT:
1. If it breaks above the 50D MA (Red line) and closes above it.
2. A positive daily close above the support line (Red Line).
This breakdown will result in 200 to 300% profit in the next 4 to 6 weeks in many altcoins. Follow me to know the TOP 10 altcoins to trade this season.
THE BEST THING ABOUT TRADINGVIEW IS YOUR CHARTS DOES THE TALKING, So go through my previous altcoin updates to know about my accuracy. If you find it deserving please like and shoot a follow for more future updates.
Thanks for reading
Stay safe
#PEACE
Bitcoin Dominance Bottoms Out ! Turnaround 4hr ? #btc #bitcoin Bitcoin dominance has absolutely bottomed out on the 4hr chart and looks to be doing same on 1 day chart too . Surely the turnaround will happen soon - and we'll see Bitcoin dominance and Btc price start to rise - perhaps through towards August . As you can see we hit a TD Sequential 9 in red and there's hard divergence down with all MAs pointing down as well. Rsi is bottomong out at 6 ! This is gonna turn soon in my opinion and head back up . I wouldn't be surprised if people are coming out of their alt postions soon ( or already . )
Is the altseason already nearby?📊 The breakdown of support and BTC dominance index downward movement strongly affected the entire cryptocurrency market. Altcoins are gradually starting to reveal their potential. A lot of coins are pumping now.
Chainlink, for example, has reached its ATH.
And Dogecoin made more than 100% in just 2 days.
👀 Flat movement of BTC led to a drop in the domination index to 64% level and has a positive effect on altcoins, which will continue to grow against BTC and possibly return to their March values.
📉 The index has formed LL and BOS on the chart. This indicates a continuation of the downtrend.
🗣 However, do not forget that in case of a strong BTC impulse, money will begin to flow back. This might directly affect the alts. Part of the coins will go in to correction. Some will follow bitcoin.
✨ A breakdown of the 62.5% BTC.D level will open the doors for the altseason similar to 2017-2018. Remember that it begins after BTC completed its upward movement.
⚠️ The worst option for altcoins is domination above 73% level. It’s not even worth saying what will happen to the coins.
