BTC Dominance - on the waythe overhang over the level continues.
Waiting for the altseason!
the feast will begin after the breakdown!
on many of the coins is already a feast.
You will learn the best place where we can trade this instrument at low risk.
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
Dominancia
BTC.Dominance - ALT SEASON IS COMING.ALT SEASON IS COMING.
Many altcoins are looking to go grown.
Bitcoin dominance shows that growth is possible.
You will learn the best place where we can trade this instrument at low risk.
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.
21.10.2020 - Bitcoin dominance (BTC)Hi Traders!
Why does Bitcoin grow and other altcoins not? Why don't small altcoins grow against Bitcoin despite the growth of Bitcoin? Find out more in today's analysis.
Today we analyze the dominance of Bitcoin, which is absolutely key for traders. What is it actually telling us? Currently, Bitcoin dominance is at 61.71%, which means that up to 61.71% of all money in cryptocurrencies is in Bitcoin. The rest is allocated in other cryptocurrencies. It is, therefore, logical that if the dominance increases from the current 61% to 70%, for example, then the money is transferred from altcoins to Bitcoin (another option would be the influx of new money into alts, which is not currently happening). Conversely, if dominance declines, money is shifting more from Bitcoin to altcoins.
Let's look at the chart. As we can see in the summer the dominance decreased. If we mention the summer months, this is exactly what caused the huge pumps and growth in the DeFi sector, for example. Likewise, as the market grew, so did altcoins. In recent weeks, the situation has been the opposite. Bitcoin increases and altcoins stagnate or decrease. However, technical analysis can also be applied to this chart, and this graph is the absolute key to trading altcoins. There is a need to "catch" cycles when dominance decreases, as this is the period when altcoins are stronger and grow.
Currently, we have reached a very strong resistance, on which the trendline of the channel, MA21, and point resistance is at the level of 62.87%. RSI still holds the trendline. So we expect a minor rejection soon. After a few weeks of hard trading, better times could come.
May the crypto be with you!
19.8.2019 - Bitcoin Dominance Hi traders!
Today, we are explaining a special chart - bitcoin dominance . Let's deep dive! Bitcoin dominance is in percentage. It represents the number of percentage of total capital currently allocated in bitcoin . Depending on its growing or falling trend, we can determine the correlation of altcoins.
Let's examine possible cases. If both bitcoin dominance and markets grow, it means bitcoin grows the most and altcoins less. If bitcoin dominance falls and markets grow, it means bitcoin grows less compared to altcoins. By contrast, if bitcoin dominance grows and markets fall then bitcoin falls less than altcoins and vice-versa. It's simply not enough to know whether markets fall or grow, but we also need to know the inter correlation and that's what bitcoin dominance tells us.
On the daily graph we can see bitcoin dominance is very bullish. That answers why only bitcoin has recently gained, which grew more rapidly than other coins. Despite smaller corrections, the growth should come to an end at higher valuations. Now there's still room for growth . That can be also caused by halving. Bitcoin began at 50,55% dominance and we are now attacking 70%. That said, as much as 70% of all crypto funds is in bitcoin .
On the chart we are expecting the last upwards wave and then stronger correction should follow . RSI keeps very high levels too. Bitcoin dominance will continue to grow for a while but we are slowly nearing the finish line. One or two months to go .
May the crypto be with you!