Which direction should Bitcoin Dominance take?
#Bitcoin Dominance 1D chart;
The white trendline starts from January 2015 and continues to the present day with a peak in January 2021.
It managed to rise above the trendline with strong momentum.
A decline will surely come, but it is too early for that.
So why not now?
In order for the decline to begin, the necessary infrastructures must first be formed. One of them is the RSI mismatch.
There is no decline at the moment.
Pay attention to the levels I have circled in red circles; the first one is a strong resistance level, the other is OB resistance.
My opinion is that we can see a rise at least until the OB region.
The white trendline starts from January 2015 and continues to the present day with a peak in January 2021.
It managed to rise above the trendline with strong momentum.
A decline will surely come, but it is too early for that.
So why not now?
In order for the decline to begin, the necessary infrastructures must first be formed. One of them is the RSI mismatch.
There is no decline at the moment.
Pay attention to the levels I have circled in red circles; the first one is a strong resistance level, the other is OB resistance.
My opinion is that we can see a rise at least until the OB region.
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