Its pretty clearly bullish at this point as it is bouncing off multiple supports including a long term from April 2019 and has numerous bullish divergences occurring. Keep in mind that this cycle is unique as so many people are flocking to BTC right now. They are just learning about alt coins and are largely unsure where to throw their money in that field because things are so volatile. Most of them will keep most holdings in BTC and ETH and continue to buy driving the price to potential six digits.
I believe we are going to see another boom soon on dominance similar to what just happened. If this is correct we will see 6 digits before long pretty sure. All investments at your own risk as always.
I believe we are going to see another boom soon on dominance similar to what just happened. If this is correct we will see 6 digits before long pretty sure. All investments at your own risk as always.
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Multiple paths exist of course and these arent confirmed yetNote
Take note of how high the momentum is. It will have to stay overbought for a while to continue the current arrow pathway so I assume it will drop first, the question is how much and at which point will it skyrocket.Note
Here are 8 time frames of Altcoin dominance.It does indeed look like it hit a bit of strong peak right there, doesn't it?
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Note
There could be a bull cypher about to shoot up on alt dominance right now but I honestly don't see it being too significant considering that daily chart
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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.