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Bitcoindominance

$BTCDOM/USDT 2D (#BinanceFutures) Rising wedge on resistanceBitcoin Dominance Index looks locally topped and about to reverse mid-term, let's give it another try! Current Price= 1517.1 Sell Entry= 1517.1 - 1572.5 Take Profit= 1411.7 | 1311.6 | 1211.1 Stop Loss= 1656.1 Risk/Reward= 1:1.2 | 1:2.1 | 1:3 Expected Profit= +17.24% | +30.20% | +43.20% Possible Loss= -14.40% Fib. Retracement= 0.236 | 0.382 | 0.559 Margin Leverage= 2x Estimated Gain-time= 5-6 months Tags: #BTCDOM #BTCDOMUSDT #BTCD #BitcoinDominance #Index #Futures #Derivatives #Dominance Contract: www.binance.com
Short
by TradingOn
BTC DOMINANCE | BITCOIN | ALTCOINS: THE RELATION.Hello guys, this is the BTC dominance update in 2 days timeframe. Things are taking quite an interesting turn in the market. I am not completely sure yet but comparing the BTC dominance with Bitcoin and other altcoins, looks like some big move is about to come. Let's compare the dominance and BTC chart side-by-side. Bitcoin: In my recent BTC update, BTC is holding the $28k support level and it is trying to bounce back. The RSI is at the oversold area and most likely it's gonna rally higher. BTC Dominance: We saw BTC.D making greens for the last couple of weeks breaking out of the upper trendline and also close to hitting the resistance level. The RSI on the other hand has crossed the 70 level which shows a clear sign of rejection. What I am understanding from the current scenario is BTC is trying to make a bullish rally and the BTC dominance is possibly getting rejected. According to the experts, whenever the BTC.D gets down and BTC goes up, the altcoins go up quicker. Is that possible in the current phase? Are we going to see a bullish rally or is it just a trap? Well, I am not sure enough to confirm it. Like I said many traders including me are assuming this to be a bear market but nobody knows exactly and no one can be deadly accurate at this. It is all a probability. As of now, for this chart, my invalidation point will be 47% resistance level. If the BTC.D breaks above this then all these assumptions will go to nothing. What do you think about this? Do share your ideas and correct me if I am wrong. I'll see you in my next update. Thank you.
CRYPTOCAP:BTC.DShort
by Dexter_The_Trader
9
Will the Bitcoin continue to gain market share❓💎"The BTCDOM Index provides insights into the market and can be used as a tool to speculate on Bitcoin’s relative strength against altcoins. Essentially, the index measures the demand for Bitcoin relative to altcoins. When altcoins gain market share relative to Bitcoin, the BTCDOM index loses value. Conversely, when Bitcoin gains market share relative to altcoins, the BTCDOM index will gain value." 💎The BTCDOM Index broke above the resistance trendline, followed by the break ..........
by CryptoPAMM
Bitcoin and Bitcoin Dominance UpdatedBitcoin struggling to break over and head towards the 34,000 Resistance: 30900 would be the level we could dare to increase our Long positions whereas 28,600 looks like a more probable scenario. At the same time, BTC Dominance is finally under resistance again and this calls to switch focus very fast to Altcoins: In any case, this will be very interesting to see when the US markets open. Volatility could be on today, be prepared. one Love, the FXPROFESSOR
CRYPTOCAP:BTC.D
by FX_Professor
3
BTC DOMINANCE - The Decisive ChartBitcoin Dominance is the key chart and it can be as tricky as it gets... We see MAJOR Resistance right now at 45% and this is the second time it is put to the test. If it breaks higher then BAD news for Altcoins (not necessarily for Bitcoin). If again it gets rejected and eases lower towards 42% or lower then Great news for Altcoins. On the chart you can see how we had a Bull Run in 2021 (orange level) when tis level dropped from 70% to 40% So, if you want a 'Bull Run' and a major recovery on our ALTs then this is the chart you want to see lower. I am also in this category but Bitcoin is my main asset, my preferred trade and Alts are secondary. That is just my opinion. One Love, the FXPROFESSOR
CRYPTOCAP:BTC.D
by FX_Professor
1
BITCOIN DOMINANCE AT RESISTANCE - Great News for ALTSFinally some good news from this chart as Bitcoin dominance is at resistance and ALT coins are rising. We said it yesterday that the market has good chances to recover now and it is happening: Buy when there is 'blood on the streets' but remember to Buy with a plan. We told you : ' CRASH CREATES OPPORTUNITY''' and it did create opportunity. Here you go for tholse who followed and took a STEPN forward: Keep in touch for frequent updates. One Love, the FXPROFESSOR
CRYPTOCAP:BTC.D
by FX_Professor
3
BTC Dominance - Market Update - 17.05.22Hello Traders! If Bitcoin price goes below the current support in the $29500 - $31000 range, we should expect a continued decline in altcoins, which will lead to an increase in Bitcoin dominance. On the chart, we see that the price value has found support near the 39.25% level and is currently approaching a breakout of the nearest resistance level of 44.50% and the local downtrend. With significant selling pressure, we can expect an upward movement on the chart to the resistance level of 50.00% near which the MA100 on the weekly timeframe is located at the moment. Good luck and watch out for the market P.S. This is an educational analysis that shall not be considered financial advice
CRYPTOCAP:BTC.DShort
by UnknownUnicorn10064030
$BTC.D Triangle still valid and playing out. So here we have 2 paths I think this might follow... Green path illustrates the main count with E already finished and assuming we will go up soon to make wave (2) and retrace quite a bit to create a bit of havoc on the market. This has the potential to play out within the next few weeks at the most, followed by an ALT season. The red path on the other hand assumes that E is actually A (leading diagonal) of E, and that the current retrace is B of E and that we will go higher and above the triangle diagonal. This would cause the market to to go below expectations and would cause some real FOMO selling. I'm about 60/40 in favor of E being finished. Safe Trades, avoid shitcoins, and remember, wave 4 never retraces into wave 1. *wink wink.
CRYPTOCAP:BTC.D
by FlokiCrypto
1
A brief take on BTC DominanceI know, a lot of Traders do not rely on the BTC Dominance as an Indicator anymore, since it's not considered as useful indicator for the current strength in the Market. I still take it into consideration for my trading. Two patterns to be seen for BTC-Dom. At this Moment. The first one would be the Descending-Triangle and the second one would be a Double-Top Pattern. Both are considered "Bearish". The Target for the Dominance would be somewhere between 31.02% and 28.91%. If the Dominance really would break down, this would imply that a lot of the Altcoins would have a huge run. On Thing to Consider: In the last Bull market (17/18) something similar happened. BTC-Dominance was going sideways and then broke down leading to a huge Altcoin run, just to confirm the end of the Bull market. The Dominance, then, slowly began to rise as high as 75%, which clearly showed that most Crypto-Traders do see Bitcoin as a safe haven, for that Time at least. Well, history doesn't repeat itself, but it rhymes - keep that in mind. This Analysis is not intended to be investment advice. Always DYOR.
CRYPTOCAP:BTC.D
by blauersamt
Bitcoin Dominance Suggests Bear MarketThis break-out is quite significant and realistically potentially indicates a real turning point in the market. Up until recently, it was still questionable whether BTC would find a bottom and may continue the Bull Run. But after the carnage this week and the Luna catastrophe, the market has lost all momentum. Alts are bleeding to nothing and BTC has become king again. If we simply use this chart to gauge where we are at on the Macroscale, this highly suggests we are well underway into the 2022 Bear market. Now it is important to understand the targets for the BTC Domanence as it will prove to be potential turning points. The first target being 50% and the second target being 60%. If we compare the last Bear Market in 2018, it wasn't until after BTC Dom reached 60% before it found a bottom. Now I'm not saying it has to hit 60% again this time, but I am definitely targeting 50% from here. That is the next point of interest. My Bearish sentiment doesn't just stem from Crypto, it reaches far out toward the broader stock market and enormous macro headwinds. I can't possibly explain it all in this post to keep everyone's attention but if you check back through my previous posts, there are soo many Gems to learn from to navigate this environment. Now is the time to LEARN and grow your knowledge so you can benefit from all this chaos later on. Now is when success is made, not at the top of the Bull Run. Let me know if you have any questions!
CRYPTOCAP:BTC.D
by NoOneWhoIsSomeone
1
Bitcoin Dominance Breakout could Be Really Bad news ⚠️Bitcoin Dominance had been going sideways in what we called 'slow death April 2022'. Well, early in May the price is attempting (right now) to exit from the descending wedge and it appears to be doing that going North (Up). When Btc dominance rises it's bad news for Altcoins so let's be careful and see how the price behaves at resistance. Keep you posted and remember what our plan has been this year: Buy BTC, hedge with some short positions on some Alts and Nasdaq... Been working here but still, very painful to see Alts losing even more ground. This is our opinion here, our only advise is to do your own research and take it easy. One Love, the FXPROFESSOR
CRYPTOCAP:BTC.DLong
by FX_Professor
2