BTCDOM at the threshold of a strong impulseA very interesting situation is now observed on such a ticker as BINANCE:BTCDOMUSDT.P - bitcoin dominance index released by Binance. It differs from CRYPTOCAP:BTC.D in that it shows bitcoin dominance to the top 20 altcoins.
On the weekly chart of BINANCE:BTCDOMUSDT.P there is a very old AMEX
BTC DOMINANCEI see an ascending rising channels that predicts BTC could be in its final phase of dip. If price confirms to this ascending structure, then it ca indicate a confirmation for dominance.
What does this mean for traders?
Well, a break upwards or further ascending structure can mean BTC outperfor
BTCD Break StructureA break of this structure either upwards or downwards could mean different things. A breakdown could mean strong upward movement for altcoins and Bitcoin dominance weakening. A break upwards could mean BTC outperformance while altcoins remain stagnant or lose value. Either way, we wait.
Technical Analysis of BTCDOMBINANCE:BTCDOMUSDT.P reflects Bitcoin's dominance in the cryptocurrency market, currently trading at approximately 2936.8 points on Binance. The chart indicates that the index is testing key resistance levels near 2940 points after recovering from support levels around 2910.
Key Technical Highligh
BTCDOM has breakdown support Rising Wedge! Alt season is coming?BTC DOM now at support pattern Rising Wedge and starting breakdown the support 2750-2700,
potential retest at this level before going down
if this skenario valid, alt season will be Wild Pump :) with so many good sentiment but still
dont over leverage brader before the plane take off, so u dont m
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.