Btc-dominance
Bitcoin Dominance Chart Where We'll Go Next (BTC/DOMINANCE)Hello Everyone,
Ye Bitcoin dominance ka chart hai hai parallel channel aapko dikhayi dega jo ki uptrend me hai kafi time se and resistance line ko strongly break bhi kiya tha but 12 hour chart me agar aap dekhe to reversal candle aapko dikhayi degi,
It means correction aane wali hai Btc dominance chart me and agar aap RSI indicator use karenge to hame yaha par bearish divergence bhi show hoga jo indication de raha hai Btc dominance decrease hone ka,
Agar yaha se price decrease hota hai to jaldi hi hum Altcoins ke price me ek achha move dekhenge so wait and watch.
Our success previous analysis:
BTC Dominance to 70%?If not 70%, watch out for 67.42%
Time frame July 11-14
BTC.D seems to be marching towards the 70 to 71% threshold. That's higher than I expected and the next fib lines are 80 to 82% BTC.D (but this could be a 5th wave target?)
This current next wave in BTC.D is driven by, what else, trade war tensions. Most recently Washington approved the sale of $2B in weapons to Taiwan and that's really pissed off the Chinese Communist.
(For those unaware, Taiwan is essentially the pre communist Chinese government. in exile.
These are the people who were defeated and fled the mainland when the communist took China by force.
The Chinese Communist Party is very adamant other nations, especially the US, adhere to the "one china" policy, which essentially means nobody acknowledges the Taiwan nation state. They sort of have a pesky claim to the Chinese "throne")
Anyhow...
Using Fibonacci, we can come up with a target dominance of approximately 70%
The advancement is measured by taking the bottom and the top.
The bottom is measured at the lowest wick down. See April 5th.
From there place your "1" line to the peak of that first mini wave on April 11th and notice how this predicted future local caps.
Place your other "1" at the top of the completed wave 1 on May 14th for the larger wave pattern.
70% BTC.D corresponds with the 1.618 advancement of the full wave and the 5.618 advancement of the initial mini wave.
As mentioned above, the next Fib target is 80 to 82%. The people who say 90%, I would ask what their basis for that is.
Not a fun time to be holding alt coins either way.
BTC Dominance Chart Showing Strength An important chart to take note of, certainly as an investor. Bitcoin Dominance chart is often overlooked. You should know how strong Bitcoin is and with this, it shows how much money is going into Bitcoin instead of going into the Alt-coins.
When Bitcoin Dominance chart falls it will show a dip in Bitcoin and also a possible increase in Satoshi Values of the other alternative coins.
Really good to set an alert at key areas to buy Bitcoin or to move into Alt-coins at certain levels.
Alt Season - next wave startingAfter reaching $11,200 -- BTC needs to correct and alt coins need a chance to catch up.
I think the next 1 to 3 weeks will be a rapid bloom time for the alt market but it could all be over by the middle of July!
Let's review.
Regarding BTC, $11,100 represented the 3.618 Fibonacci advancement line, when measured from the bottom to the tip of the first wave. This is often the tippy top price of a 3rd wave.
The next major price milestone will be $15,498, representing the 5.618 line and the next number in in the fib sequence. If BTC doesn't have a major correction or slip back into a bear market, this is the price I would target for the 5th wave.
Looking at Bitcoin's Dominance, we can see it made an impressive run and market take over beginning on June 14th. I noticed a lot of my alt coins pumped hard (but for like 15-20 minutes) on June 13th.
By applying a Gann fan to BTC.D, we can see the level perfectly, and I do mean perfectly bounced off the last wedge, which is often a major resistance line.
Directly above it, we have the resistance line generated by the previous high.
BTC Dominance might recover between the 2/1 and 3/1 wedge but it will be only temporary before resuming downward.
Look for BTC.D to reach and breach 59
Here is what I think will happen.
Bitcoin will maintain it's price above $10,000 for probably a week or so. Probably at least through next Tuesday when the US and China meet.
While BTC's price is kept at this level, BTC will flow into alts, causing them to rapidly bloom over the next 1-3 weeks.
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BTC Dominance (TA) - need to keep an eye out It seems we need to keep a close eye on this, as I wasn't paying attention to it.
When I looked at some ALTs, some of them did OK.
It really depends on how this stage, how BTC drops and recovers, as it can create room for the ALTs to jump in
Updated details from the original forecast >
Before
Bitcoin Dominance/ When Alt Season?I know everyone is so itchy and calling for alt season, but it simply will not come until this bitcoin dominance chart reverses trend. The shaded area is the key level. Once this breaks down and below that we could see alts turn, but as of now, it is holding as support and bouncing meaning, death the most alts. This means money is flowing out of alts, and into bitcoin and this will act as the gas to propel BTC to 9000 and likely 9800-10,000 imo. Alts are risky until bitcoin is done running, watch this chart it is your key indicator, not crypto twitter... Long BTC, not alts.
Ripple is at Bottom Support .. Ripple BINANCE:XRPBTC is decreasing from 9000 Satoshi to 7000 satoshi.
7000 satoshi is work as a support in prev. months, Price is almost stay there, Due the increasing the BTC dominace, the price breaks the 6900 satoshi, & now sitting at 5800 satoshi..
Technically,
RSI is almost oversold zone.
Price needs to break the downtrend , for bullish rally.