BTC Dominance UPDATE (12H)
Updated
This analysis is an update of the analysis you see in the "Related publications" section
Market makers always do things to prevent retail traders from identifying the next direction. The support from the previous analysis has been engulfed, but this bounce is for order accumulation.
Based on the data available for this index, it seems we have a triangle instead of a diagonal wave B. The red zone is where candles could be rejected to the downside, and altcoins may perform better compared to Bitcoin.
A daily candle closing above the invalidation level would completely negate this outlook.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Market makers always do things to prevent retail traders from identifying the next direction. The support from the previous analysis has been engulfed, but this bounce is for order accumulation.
Based on the data available for this index, it seems we have a triangle instead of a diagonal wave B. The red zone is where candles could be rejected to the downside, and altcoins may perform better compared to Bitcoin.
A daily candle closing above the invalidation level would completely negate this outlook.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Trade active
Upon hitting the yellow zone from the previous analysis, it dropped by over 2/5%, leading to a good recovery in altcoins
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