Rebalancing of share.
Updated
Bitcoin dominance. 26 day chart.
It seems clear now that the dominance has fallen from the
ascending diagonal it has been travelling on since November 2022.
The wave trend gives an indicator of a probable downward reversal
(the red dot corresponds to the blue candle).
Heikin Ashi also gave a red candle.
I will update the idea later this summer.
For now I am watching the Tenkan line which
will enter the red cloud in the next 26 days.
It seems clear now that the dominance has fallen from the
ascending diagonal it has been travelling on since November 2022.
The wave trend gives an indicator of a probable downward reversal
(the red dot corresponds to the blue candle).
Heikin Ashi also gave a red candle.
I will update the idea later this summer.
For now I am watching the Tenkan line which
will enter the red cloud in the next 26 days.
Note
1. The candle is above Kijun Sen, but below trend line. There is some sideways movement since March 2024. Heikin-Ashi candle opened red.
2. Tenkan-sen crossed the cloud and formed a support factor, but according to my observations this is a very good argument in case of 4H or 1D chart. This is a 26D chart, it may or may not work here.
3. Senkou Span B is aiming for a crossover with Senkou Span A, but the shape of the future green cloud is uncertain. It could be below the red (look at the last green cloud, it is looking down and the candles are below it. This happens on larger timeframes. Think about it.
4. The previous 26D candle closed with a bearish signal forming on WT_CROSS.
5. LaRSI has been overbought since January (but it could be aloft for a few more months, it's a very slowly indicator, but a sure thing).
6. Two black crosses on SQZMOM indicate the start of squeeze for reset. In addition, there is some divergence.
Note
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