BTC.D shows a strong reversal sign, but it is still strong
Updated
BTC.D shows a strong reversal sign, but it is still strong
BTC.D (BTC dominance) ran as my last prediction, it ended at around 73.5% before having a correction.
A regular bearish divergence between BTC.D and its RSI appeared on the daily chart, forecasts a bigger correction of BTC.D.
BTC.D meets its MA20, strong support that can push it up to near 73% before another down.
There are 2 strong supports (MA50 and local support) below MA20 that prevent BTC.D to have a hard dump.
Since BTC.D momentum is still strong, I expect that BTC.D won't drop to below 69% in this month and next month.
Altcoin season is not coming yet, even it may never happen again, but there will have a small rally of altcoins regarding BTC.D's drop.
If BTC.D's RSI breaks its long-term support that lasts for 9 months, a massive drop of BTC.D will take place leading to an altcoins blooming season.
P/S: It may have a small fluctuation of the values (around 1%). I use tradingview BTC.D in this analysis, in coinmarket.com the BTC.D values might lower than tradingview values around 1-2%.
An expected move of BTC.D and its MAs are as shown in the chart.
Thanks for reading, share your thought in the comment.
BTC.D (BTC dominance) ran as my last prediction, it ended at around 73.5% before having a correction.
A regular bearish divergence between BTC.D and its RSI appeared on the daily chart, forecasts a bigger correction of BTC.D.
BTC.D meets its MA20, strong support that can push it up to near 73% before another down.
There are 2 strong supports (MA50 and local support) below MA20 that prevent BTC.D to have a hard dump.
Since BTC.D momentum is still strong, I expect that BTC.D won't drop to below 69% in this month and next month.
Altcoin season is not coming yet, even it may never happen again, but there will have a small rally of altcoins regarding BTC.D's drop.
If BTC.D's RSI breaks its long-term support that lasts for 9 months, a massive drop of BTC.D will take place leading to an altcoins blooming season.
P/S: It may have a small fluctuation of the values (around 1%). I use tradingview BTC.D in this analysis, in coinmarket.com the BTC.D values might lower than tradingview values around 1-2%.
An expected move of BTC.D and its MAs are as shown in the chart.
Thanks for reading, share your thought in the comment.
Note
BTC dominance seems to lose its RSI support. It is a good sign for altcoin in the next days.
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