You'll see this a lot today.. you can find this indicator on TradingView called "Hash Ribbons" use the Daily TF.
This implies we have put in a Macro bottom. Does NOT mean prices rises today or this week. But, overall it's time for a bull market.
In 2018, Hash Ribbons flashed red and we saw a 50% drop followed by macro bottom. Once it said Buy, it took 28 days of...
Are we looking at a massive Bull Flag on Bitcoin Dominance Chart?
We are currently seeing a bullish break of the falling wedge on the Weekly.
This doesn't predict the price of BTC . But, if this flag plays out.. ALT/BTC pairs will suffer.
Weekly Stochastic also crossing up.
BTC BIGGER PICTURE. If Bitcoin respects the falling channel. End of year prediction between 6300 and 8000. If .618 fib doesn't hold 7230 then .786 is at 5420. If we stay in the channel we won't see that level until 2020. Possibly climb out of the trenches by May Halvening. Twitter @cryptorolly
Zooming out on the weekly chart, with both BTC/USD and BTC Dominance side by side, you can see TWO obvious trends.
Jan 1, 2018 - Apr 1, 2019 : Inverse Correlation
BTC FALLS, Dom Rises = BTC dumps, Alts dump harder (short alts)
BTC RISES, Dom Falls = BTC pumps, Alts pump harder (long alts)
- Jan 1, 2018 - BTC falls. Dom rises
- April 2, 2018 - BTC rises, Dom...
