I can see BTC Dominance rising to the upper channel over the next few days and peak for a reversal.
My guess is that BTC Dominance will rise due to a Crypto Market price pull back and BTC will retest the breakout below 20K. (my area of interest is 19500-19700)
At that pullback I believe will be prime time to spark an ALT rally, causing BTC Dominance to visit the lower boundary of the parallel channel and confirm RED TREND breakout.
Good Luck
My guess is that BTC Dominance will rise due to a Crypto Market price pull back and BTC will retest the breakout below 20K. (my area of interest is 19500-19700)
At that pullback I believe will be prime time to spark an ALT rally, causing BTC Dominance to visit the lower boundary of the parallel channel and confirm RED TREND breakout.
Good Luck
Note
Total 2: watch for a pullback confirm S/R/ flip at 50% retracement and then trend breakout.
Note
is this the local top for BTC dominance? I added to my ALT positions with that draw down.
Note
Dominance target reached. I believe that from here, ALTs will begin a strong rally and remove some dominance from BTC
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.