BTC dominance (Y21.P2.E4).Short term bounce.
Updated
Hi Traders,
This is a continuation of the previous post, link provided below.
From the start, this is only a short term TA with a bearish divergence present.
We can see many ALTs dropping and it was initiated with the double top of BTC which has a likely chance to drop to 58k range if its a specific double top as per chart below
Hence the ALTs will and have responded with this downward pressure and therefore reflection on the BTC dominance chart.
This time round it could be a bigger bounce than last time as we can see the magnitude in the divergence as it appears on the 8 hrly and more.
For now, I see BTC doing this.
All the best,
S.SAri
OVERVIEW
This is a continuation of the previous post, link provided below.
From the start, this is only a short term TA with a bearish divergence present.
We can see many ALTs dropping and it was initiated with the double top of BTC which has a likely chance to drop to 58k range if its a specific double top as per chart below
Hence the ALTs will and have responded with this downward pressure and therefore reflection on the BTC dominance chart.
This time round it could be a bigger bounce than last time as we can see the magnitude in the divergence as it appears on the 8 hrly and more.
For now, I see BTC doing this.
All the best,
S.SAri
OVERVIEW
Comment
Still downward pressure with some little bounces along the way. Indicators show downward pressure but also a bullish divergence building up on the lower time frames.
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This community has signals now but with no risk management comms.
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