BTC Dominance - Can we bounce at 50%?
BTC Dominance has quite literally crashed to 50%. This was rather unexpected that we went down... so fast. But who can blame this bull market, altcoins simply exploded in Q1 2021.
However, the market is now wondering what to do next and it seem BTC is at a crux right now. Will we pump here and see BTC set a new ATH or will we continue to bleed? Hard call, but we're a bit oversold on this chart. It could be that BTC may pump quite a bit towards 70k which would give us a nice bounce off this support line at 50%.
Best to watch BTC price closely (see my other idea and latest video on YouTube for more on that). For now, the market is still undecided, but I suspect sometimes this week we will get an answer.
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However, the market is now wondering what to do next and it seem BTC is at a crux right now. Will we pump here and see BTC set a new ATH or will we continue to bleed? Hard call, but we're a bit oversold on this chart. It could be that BTC may pump quite a bit towards 70k which would give us a nice bounce off this support line at 50%.
Best to watch BTC price closely (see my other idea and latest video on YouTube for more on that). For now, the market is still undecided, but I suspect sometimes this week we will get an answer.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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