Get started

Bitcoindominanceupdate

#BTCDOMINANCE BTC Dominance Chart 1M BTC Dominance Chart on a monthly basis. RSI has created a double bottom so expect a good sign of upward movement soon. Possible bad sign for altcoins for a period of time as BTC dominance goes up. Let's hope Ethereum and other Alts can have their happy day before dominance moves up too fast. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. #cryptopickk #bitcoinprice #btcdominance
CRYPTOCAP:BTC.DLong
by MillionaireEconomics
2
DOUBLE BOTTOM ON BITCOIN DOMINANCE.Hello folks, Welcome to this another important update on BTC Dominance in 3 days timeframe. First of all, thank you everyone for being so supportive. I feel honored to help you guys with my charts and quality content. In this Tradingview platform, I provide 100% original and thoroughly analyzed content. I like to keep things easy and simple for my viewers. Now, let's get straight to the chart. On this chart, we will be discussing both the bullish and bearish scenarios. BTC.D formed a double bottom pattern and also broke above the trendline (drawn in a dotted line) and currently retesting. The interesting thing is that the dominance did not break above the 1st resistance level which makes things a little skeptical. Currently, BTC.D is at the 50 MA support which is the 1st support level. A break down below this level will drop the price to 2nd support level which will be almost a 12% drop. If this happens then it'll surely boost the altcoins in a good way but the rejection won't be that easy. The dominance might have failed to break above resistance 1 but it is still above the support level 1 so we can expect a bounce as well. In order to validate the double bottom pattern (shown in the image), BTC.D must break above resistance 1 and once that happens it will eventually try to test resistance 2 and you know what will happen if the dominance reaches resistance 2. My biased is on the neutral side for the time being. I will lean to either the bullish or bearish side only after the confirmation. Well, that’s all from my end. If you have any queries or doubts then do comment me on the comment box. Also, let me know your thoughts on BTC.D. Like, Share, and Comment.
CRYPTOCAP:BTC.D
by Dexter_The_Trader
2
Bitcoin Dominance Downside Coming!!?Bitcoins dominance has risen up along with bitcoins price and hurt the altcoins almost all around the board, but things are looking up for altcoins as bitcoin dominance looks like its about to tumble down. As dominance falls altcoins will start to rise and the more it falls the more Alts will pump, keep in mind bitcoin can initially drag down the market if we see price action drop along with dominance but once we find some footing on BTC we can expect altcoins to start flying! First off taking a look at todays daily candle, we notice a very small body and long wicks coming from both sides, now this is often looked at as a transition candle and in this case would be a bearish transition candle, we do have to wait for our daily close tonight to really get the confirmation, but either way i think some downside on the dominance is coming sooner than later. We have had a spree of green daily candles, we have had 18 in a row almost except for 1 red candle in the middle of this run up, as you can see on the pivot bands we have had many many touches off the red band at the top and what usually follows is some downside, and this will be key for the altcoins. We want to see a push underneath the purple midline which likely wont happen today but i could see it coming in the next couple days, this will eliminate a key support level and then we will be challenged with support at 44.68% and a break below here is what we want to see, then of course a continued fall downwards. Now looking at the reversal momentum indicator (RMI) we are coming up very close to a bearish cross or a bearish reversal, and since we are pretty high up in the top zone we can likely see a decent fall if we do see this reversal play out, we want to see big separation with the orange on top. Now the Wavetrend is looking pretty bearish considering we are in the sell zone now for a bit of time, and we notice a nice downside curl signalling this upside wave could definitely be coming to an end here soon, the last time we saw such a big upside wave was at the beginning of august and we were followed with pretty heavy downside which will be key to spark this altseason and too send the altcoins flying sky high! Not financial advice just my opinion!!
CRYPTOCAP:BTC.DShort
by JacobR905
1
BTC Dominance Hidden Bearish Divergence Update!Taking a look back at our Bitcoin dominance hidden bearish divergence things are starting to play out just like we would want, this strong pattern indicates a continuation in trend and we are clearly in a strong downtrend, this is very positive for altcoins especially as dominance falls Bitcoin will have less of a grip on the market and this can and usually always leads explosive upwards movement for the alts. Now keep in mind if we do see a hard crash in dominance this could trigger an initial fall in BTC (which likely will bleed into the rest of the market) but once we find some footing we can expect altcoins to start going on some massive runs! Please feel free to refer back to my last TA to learn and see exactly whats involved with this hidden bearish divergence pattern! We are currently still trading within the bearish pennant and we are seeing what looks like a bearish transition candle but we have to wait till daily close to get that confirmation, as we approach the apex or end of this pennant we want to see a trickle downwards and a breakout to the downside which historically is very likely to be the case. Looking at the RSI last time i was talking about a likely rejection off the midline or slightly above it and we are seeing that play out perfectly, and is actually a good sign and indication these TA's are playing out, we want to see Bitcoins dominance stay in a confirmed downtrend with the RSI below the midline as shown over the past month on the RSI. The Stoch RSI aswell, since we already got 2 confirmations on the stoch RSI of the hidden bearish divergence it is a very good sign we are seeing a bearish cross and a fall out of the overbought area which directly correlates with PA, we want to see some separation in the blue and orange and to see a clear downwards projection coming from the blue, both the RSI and Stoch RSI are strengthening this call and making it more and more likely we are going to see this play out just like i've been saying. Now a new indicator to this series of TA's, the bollinger bands, we are seeing squeezing in the bands which shows volatility shrinking and indicates an explosive move looming, now the problem is it doesn't give a hint of which way but thats exactly why we are using other indicators and patterns, there is a much higher chance of us having a huge breakout to the downside rather than upside and thats due to all the facts i have been talking about in this TA like the Bearish pennant, hidden bearish divergence pattern, the start of a fall from the stoch RSI & RSI and also what looks like a return to a confirmed downtrend on the RSI, all of things point to something very clear, a looming drop in bitcoin dominance and remember that if we do see this crash its likely the market will feel the impact but afterwards we can expect altcoins to have some serious mega gains! Not financial advice just my opinion!!
CRYPTOCAP:BTC.DShort
by JacobR905
3
BTC Dominance getting stopped by heavy resistance!!Bitcoins dominance has been running the opposite of the market while we see a rise here we have been seeing some very red days for the overall crypto market, that might be ending pretty soon, Bitcoins dominance is currently facing very heavy resistance at the S1 level after falling underneath, we have many many wicks from even years ago on this level and its been getting built stronger for a long time now, i would be very surprised if we see a push through here atleast in the coming days especially since we have a total of 8 green candles in a row, i think a fall is likely too continue, and keep in mind we are in a very strong downtrend at the moment. We have some support directly underneath us at the 41.61% level and then a couple more, and i don't know if these would hold up all that well if we saw a strong reversal here and continued strong momentum to the downside, we could likely see the S2 level in the near future and i think that would absolutely ignite an altcoin run with ETH leading the pack with its almost 19% dominance level. Checking out the Ichimoku cloud we are seeing big red clouds of resistance pushing down our dominance, we look like we are seeing a slight decrease in the bearish cloud likely due to the recent upside we have had. Now check out the stoch RSI we notice we are far into the "overbought" zone and we are seeing what looks like to be a top out, we are in and out of bearish crosses and i think sooner rather than later we are going to see that big fall to the downside likely pushing the actual market into some green days! Not financial advice just my opinion
CRYPTOCAP:BTC.DShort
by JacobR905
Altcoin Season About to Explode!?Bitcoins dominance is really showing struggle with its continued fall and i think we could be looking at a bigger push down coming soon, we have held up on the 40.5% level but we wicked down to another support level at 40% the previous altseason in 2018 saw a BTC fall to just below 35% for the peak of the alt cycle and i personally believe we could see a bigger altseason for many reasons but to name a few, huge institutional investing, much more exposure to altcoins, and millions and millions of new crypto investors. Looking at the bollinger bands as talked about in my last TA we in and out of grabbing onto that bottom band and once we do i think we are bound to break these 2 support levels, the market may fall initially but it will get less and less for altcoins as the dominance goes lower and afterwards we can expect altcoins to start flying. The RSI remains in a confirmed downtrend and is back into the "oversold" area, but i don't see us getting up above the midline anytime soon we are quite a ways away and i think altseason is growing, The Stoch RSI is actually on a move upwards but we are seeing the blue ma loosing steam and starting to come back towards the orange in what looks like a soon to be bearish cross! Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC Dominance About To Fall!!?Bitcoins dominance level has fallen below key support at 43.32% and we are now looking for a drop to the 41% level! This would be very positive for the whole market especially the altcoins, there could be a initial drop from dominance crashing but afterwards we will see the market start to breakout! First off on the MACD we are seeing a bearish cross with the start of a little separation, whats key here is that we see the MA's start to take off from one another and spread out lessening the chance of a near bullish cross. Like we are seeing currently we want to keep seeing rising red bars on the histogram with each one getting bigger and bigger, this shows bearish momentum and in this case its very positive for the altcoins! Now the Bollinger bands, even though we have been on a bit of a fall already we are just now starting to touch the bottom band, and usually the case if this continues is a waterslide affect bringing price action down on a slope, if this occurs this is where i think actual BTC price action will react, if theres a big drop rapidly we can likely expect BTC's price to initially fall with it. Now the EMA ribbons, which is a great longer term indicator, we notice lots of downwards pressure on BTC's dominance, we we're starting to squeeze a little bit recently but now we are beginning to see the ribbons spread out bearishly, the more the ribbons spread out and push down the further we are from an overall trend reversal, we will likely see these ribbons fully spread out in the coming weeks/month and that is when altseason will be in full effect! Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
#BTC Dominance bouncing? ALTCOIN Opportunities ahead?Welcome to this quick Sunday Update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures. Let's get to the chart. The BTC.D Chart that I posted earlier followed the speculated path perfectly. The chart shows the possibility of some bounce in this index which will eventually lead to corrections in altcoins. These corrections won't last and should be considered as an opportunity to accumulate at lower levels. So far we have traded many altcoins like:- VET: 37% Profit TOMO: 11% COS: 70% REEF::41% DGB: 29% LRC: 45% BEAM: 24% IOST: 28% OXT: 34%+ XRP: 19% and many more... All these Altcoins were posted and have shown massive profits lately without leverage. I will be posting more setups this week. So follow me and do hit that like button if you like me to post more Spot and Futures Setup. Do share this chart with others. Thank you #PEACE
CRYPTOCAP:BTC.D
by Cryptorphic
6
BITCOIN DOMINANCE STRENGTH EXPECTED TOWARDS Q4 2021 (MUST READ)Bitcoin dominance may be on the brink of a massive influx of strength. If I am correct, it looks like whales are in the early phases of moving their altcoin profits back into Bitcoin. Assuming this is true, we will start seeing a flight of capital move away from altcoins like Ethereum, Cardano, & Ripple to take profits by moving back into Bitcoin. We may be in the early macro stage of a reversal in BTC.D trend to see strength into Q3 & Q4. If this is true, depending on your tax situation, the best method of navigating this portion of the market cycle will mean hedging altcoins profits back into BTC. It will ensure that less capital is lost with any market correction, assuming Bitcoin sees less % downside than other coins. The key to this is to re-enter altcoins after the cycle begins to tip the other way. To expand on this further, I believe Ethereum will form a new all-time high before the end of this year. However, this does not mean it will happen soon. I think that Ethereum will have a second impulse to form a higher high (new ATH) while BTC lags behind it. If I sell any Ethereum to Bitcoin, I would be dammed to not get back into Ethereum after the next pullback. We will cautiously shift away from dominant long trades on margin and incorporate more shorts to hedge long-term spot positions when it comes to day trading. Lastly, expect strict regulation in the cryptocurrency market coming into 2022—snipers Out. #BITCOIN #ETHEREUM
CRYPTOCAP:BTC.DLong
by TradersProfitClub
4
#Bitcoin Dominance Pump Incoming? Alts in Danger!Welcome to this quick update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures. Let's get straight to the chart. It's been a while since I posted this chart on BTC.D, BITCOIN Dominance is currently facing the triangular resistance. The rejection would lead to some rally in BTC pairs. Unless we see a confirmed breakout or a breakdown it's better to wait for now. IMHO Bitcoin looks prime at this point so if the current money in the market flows in BTC we won't see much change in ALTS/USDT pairs. Instead, we will see a dump in BTC pairs because of an increase in BTC dominance. What's your thought on this? Do share in the comments section. Stay tuned More updates coming up. Do hit the like button if you like this update and share your views in the comment section. Thank you #PEACE
CRYPTOCAP:BTC.DLong
by Cryptorphic
1
Bull Cycle coming back soon!??Bitcoin dominance is coming up on a very important level which is the pivot point where if we cross and breakthrough here we could see a nice reversal to the downside which means that at first BTC and crypto will most likely fall but after that when BTC dominance is lower markets will start to thrive, especially altcoins! The RSI is also coming up quick on the midline, if we can get a break here and a confirmed retest to the downside we could find ourselves in a confirmed downtrend, this would be very positive for btc and altcoins as we get lower and lower dominance alt coins especially will start to really boom. Looking at the bollinger bands we are sitting right on the midline of the bands and its definitely possible we get a bounce here to the upside, but at some point soon i think we are going to get a break below here where we will then get some more downside momentum.
CRYPTOCAP:BTC.DShort
by JacobR905
3
BTC WARNING! POTENTIAL HUGE DROP INCOMING Bitcoins dominance is looking very stubborn after refusing multiple times to break below the 45% level and now rebounding once again back upwards. I think theres a chance we see a pump in BTC dominance and that usually brings a big hit to the actual crypto markets, i think we could see a 'top' around 48% dominance before then falling back down and ultimately then resume our bull cycle. We are in a pretty "dangerous" position right now with our candles starting to ride up the top bollinger band and in most cases when that occurs we then have a big spike upwards. Our pivot point to the downside is around 46%, and by how things are looking we will have to have a top before we come back down to this level. Now looking at the RSI we are well above the midpoint in now a confirmed uptrend but we are going to be soon approaching the overbought area where then i think we could see a fall back downwards. So overall like i was saying yesterday i dont think this pullback is over for BTC and the market and that we could see some more downside in price or upside in dominance before then resuming our bullrun. I dont think we are too far off here i would say maybe the beginning of august or so is the timeline i would guess that we could atleast start to see some metrics and indicators start the process of flipping back bullish! Not financial advice just my opinion!
CRYPTOCAP:BTC.DLong
by JacobR905
2
Btc Dominance Almost at Peak??As we have seen when BTC dumps gthe dominance level spikes up significantly and we have seen some nice green days like today after pullbacks, my drawing is pretty accurate so far and we could still see a little more upside in dominance to that peak at 48%. As we can see too this level is a pivot point and there is a good chance we reject off both. We are looking for that bearish double top to then hopefully resume this bullrun, there are lots of factors as you may have seen in my previous TA's we need to see RSI confirmed above the 50. point midline, EMA ribons fully twisting back bullish, the death cross reversal ie. 50 day coming back to get ontop of the 200 day. (Keep in mind those examples are for price and for the most past its reversed when talking about dominance). The MACD still has room to run up to get that double top pattern before ultimately crossing bearish, our blue MA is coming downwards on the orange but still has a bit of moving space. One more thing i like to keep in mind these sorta timeframes are so minimal compared to looking at a macro chart say in a couple years, this is just a small blip on the chart so try not to let emotions get to you thats what causes poor decisions! Not financial advice just my opinion!
CRYPTOCAP:BTC.D
by JacobR905