Bitcoin Dominance has been consolidating around 0.5 fib. We are just about to test the trendline resistance. If the trendline is broken, we can see a 50% - 61.8% correction of the recent downward movement followed by downward trend continuation. Though there is also a possibility of retesting the previous support of galling wedge.
Depending upon how this plays out, I will be looking forward to pick some altcoins accordingly.
Depending upon how this plays out, I will be looking forward to pick some altcoins accordingly.
Note
BTC.D has broke the trendline resistance on 4 hour and is expected to rise a little bit
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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.