BTC% dominance When is the pump season? The Dragon. ABCD Pattern
Updated
On the% chart, bitcoin prevails in the cryptocurrency market. I followed a little over a year. All the key movements during this time I predicted. This percentage of bitcoin dominance is very much related to the transfer of altcoins.
Each minor correction and decline in dominance is accompanied by a shot on average 30-50% of altcoins. Some overt fraudulent altcoins with little market capitalization will then be pumped up by a larger percentage. But most continue to "die further."
Therefore, it is very important to use this period in your trade. You also need to work with those altcoins in which there is a “presence” of a major player.
The principle of using BTC% dominance is that the higher the dominance, the greater the “cry of altcoins”. This dominance chart can be used as an indicator for the rise / fall of altcoins.
The real long-awaited long-awaited “altcoin pumping season” will begin only when the bitcoin dominance% is below 62-63%, and there is a clear downward movement, the beginning of which we have after the arrival of the rising wedge.
An increase in dominance above 72-73% will mean the death of the not yet completely “dead altcoins” (complete surrender of the altcoin market).
According to the trading chart of bitcoin dominance. There was an upward wedge (bearish formation) that was broken. Now the Dragon figure is formed, or rather, the target tail of this pattern. The downtrend line (Dragon Ridge) has been broken, now the dominance of% BTC is above it.
It is worth noting that after 3 days, BTC is divided in half. If in the future we will see the development of all target zones of the “Dragon tail”, then the high probability of the formation of a harmonious pattern AB = CD (part of the ascending channel). I showed important pivot zones on the chart.
My past idea is about this analysis tool.
When is the season for altcoin pumps? BTC dominance July 23, 2019.
Soon pump season altcoins? Head and shoulders. Inverted Dragon. Nov 16, 2019
Bitcoin dominance Formation of an ascending wedge before halving Jan 8 2020
Comparison of trends. BTC domination - halving + LTC - halving. Jan 8 2020
Breakdown of the support of the rising wedge. February 6, 2020
The situation is now. As we see, after breaking through the support of the rising wedge, the% dominance began to fall and moved from the rising to a pronounced lateral movement.
About the figure of the Dragon. Read in this training idea:
Dragon figure. Formation. Structure. Target.
here is my trading idea with the potential formation of a dragon figure. Coin BLZ
BLZ (Bluzelle) Dragon. Potential. Channel work 45%
Full take of the target area of the tail of the Dragon + 80%
In this tutorial, you can read about the AB = CD pattern.
Which could potentially form if all of the target areas of the Dragon's tail are taken.
TRAINING + WORK Harmonious drawing ABCD + "Three movements" BAT
Notice how the price behaved on this trading idea.
The downward movement continued, but the support was not confirmed, but made its way.
Therefore, there was no entry point.
It is desirable that this occur in% of BTC dominance. I think the desire is clear. Remember, here the opposite situation is an expression of a downtrend, the better for us. How it will revitalize the altcoin market.
Trading is not an easy path to easy money. It is open to all, but not all of it will pass ..
Each minor correction and decline in dominance is accompanied by a shot on average 30-50% of altcoins. Some overt fraudulent altcoins with little market capitalization will then be pumped up by a larger percentage. But most continue to "die further."
Therefore, it is very important to use this period in your trade. You also need to work with those altcoins in which there is a “presence” of a major player.
The principle of using BTC% dominance is that the higher the dominance, the greater the “cry of altcoins”. This dominance chart can be used as an indicator for the rise / fall of altcoins.
The real long-awaited long-awaited “altcoin pumping season” will begin only when the bitcoin dominance% is below 62-63%, and there is a clear downward movement, the beginning of which we have after the arrival of the rising wedge.
An increase in dominance above 72-73% will mean the death of the not yet completely “dead altcoins” (complete surrender of the altcoin market).
According to the trading chart of bitcoin dominance. There was an upward wedge (bearish formation) that was broken. Now the Dragon figure is formed, or rather, the target tail of this pattern. The downtrend line (Dragon Ridge) has been broken, now the dominance of% BTC is above it.
It is worth noting that after 3 days, BTC is divided in half. If in the future we will see the development of all target zones of the “Dragon tail”, then the high probability of the formation of a harmonious pattern AB = CD (part of the ascending channel). I showed important pivot zones on the chart.
My past idea is about this analysis tool.
When is the season for altcoin pumps? BTC dominance July 23, 2019.
Soon pump season altcoins? Head and shoulders. Inverted Dragon. Nov 16, 2019
Bitcoin dominance Formation of an ascending wedge before halving Jan 8 2020
Comparison of trends. BTC domination - halving + LTC - halving. Jan 8 2020
Breakdown of the support of the rising wedge. February 6, 2020
The situation is now. As we see, after breaking through the support of the rising wedge, the% dominance began to fall and moved from the rising to a pronounced lateral movement.
About the figure of the Dragon. Read in this training idea:
Dragon figure. Formation. Structure. Target.
here is my trading idea with the potential formation of a dragon figure. Coin BLZ
BLZ (Bluzelle) Dragon. Potential. Channel work 45%
Full take of the target area of the tail of the Dragon + 80%
In this tutorial, you can read about the AB = CD pattern.
Which could potentially form if all of the target areas of the Dragon's tail are taken.
TRAINING + WORK Harmonious drawing ABCD + "Three movements" BAT
Notice how the price behaved on this trading idea.
The downward movement continued, but the support was not confirmed, but made its way.
Therefore, there was no entry point.
It is desirable that this occur in% of BTC dominance. I think the desire is clear. Remember, here the opposite situation is an expression of a downtrend, the better for us. How it will revitalize the altcoin market.
Trading is not an easy path to easy money. It is open to all, but not all of it will pass ..
Note
The dominance began to fall, most altos, as I said at that moment, rose 20-30% to bitcoins, some rose in price by hundreds percent. The dominance of BTC after rising to resistance fell to a downtrend. Use this opportunity to work.
Note
An important zone of support for the dominance of the BTS has broken through. Altcoins begin to pump up. So far, only with a small capitalization.
Now there are 2 important levels of support shown in the idea, everything is decided from them
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the squeeze disappeared from the graph)))Note
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