Dominance of Bitcoin BTC.D after 07 09At the moment - after the red candle 07 09 2021, the domination jumped, which is logical.
But you can ask yourself the question - is the dominance of 42.21 enough - to continue the rise in the price of bitcoin?
If the dominance of bitcoin does NOT grow, it will not be able to stand still for a long time and will roll down in a very short time. Even if we assume the growth of bitcoin without the growth of domination.
I expect a splash of domination upwards. Since I suppose that there should be a "fuse" for the further growth of bitcoin - and a further fall in domination.
I expect a splash of domination upwards. And this rather means that the correction awaits us in the future.
And as it happens to me - the idea must be different at first.
But I noticed a domination patch - which is very similar to the current situation.
And oh my god, I realized that this is a well-known coronadamp in March 2020.
yes, you probably saw the pictures of BTC \ USDT where this site is viewed.
Earlier I rejected this similarity to the pair against the dollar. But by domination, this site was striking.
I do not want to assume price levels. But it looks like the correction may be more than many think.
Another drain is more likely - a sharp but rather quick recovery.
Also in this idea of mine I again fell into the trap of "spring 2022". I have already published ideas on BTC on my channel - and I am considering the option of the peak in spring 2022 as an alternative option, to the option December 2021. I still have not solved this dilemma and domination only adds ambiguity.
In any case, I do not consider the current market to be bearish. And I expect ATH bitcoin 93-102k dollars per BTC by December 2021 (priority option) \ spring 2022 (my next priority option).
This is the idea. and Alas, she also leaves questions. You can write your thoughts in the comments.
Additional descriptions on the chart.
Btcd
BTC.D DOMINANCE Should be dump here and pump For Alts ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
BTC.D Dominancesoon BTC.D will dump and Last Alt season starting ,.....................................................................................................................................................................................................................................................v,.................................................................................................................................................................................................................................................................................................................................................................................................................
BTC.D currently at critical levelBitcoin Dominance has been consolidating around 0.5 fib. We are just about to test the trendline resistance. If the trendline is broken, we can see a 50% - 61.8% correction of the recent downward movement followed by downward trend continuation. Though there is also a possibility of retesting the previous support of galling wedge.
Depending upon how this plays out, I will be looking forward to pick some altcoins accordingly.
BTC.D How does Bitcoin work? Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. ... You can sell things and let people pay you with Bitcoins.
BTC.D DominanceDominance dump coming so Alts will be pump , its just becoz for pumping btc . Enjoy Altseason ..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
BTC Dominance above the 7D SMA vs AltsToday BTC Dominance closed above its 7D SMA... this could be an indicator for two things:
1) BTC on a way for a parabolic pump
2) and Alts may bleed in their BTC pairs.
That is why it is always a good to thing to hold BTC along with ALTS to hedge in case of such moves.
Bitcoin Dominance (BTC.D) Heading Towards 2017 LowsQuick update on my previous Bitcoin Dominance chart from earlier this year, looking at the weekly time frame.
The start of 2021 we saw BTC.D topped out at 70.21% and consistently fell until the market crashed in April - May. The Dominance % bounced off 44% and slowly started creeping back up. A major key in analyzing this trend was seeing that the dominance didn't even reject or touch the 50% dominance level, signaling that the move upwards was a relief rally and the downtrend will resume.
Taking a look at the 2017 move we saw it come all the way down to 35% in one straight shot, then a quick downturn to the 40% level. This time around, i'm believing that we're going to see the opposite where the Dominance first hit 40% and then the 2nd time around it comes down to hit the 35% level where it is finished from there.
Most of the major cap coins have not touched their ATH in respect to the BTC ratio and they need to before the altcoin season is finished. The small capped coins have basically all created new all time highs and surpassed their respective BTC ratio.
This 2nd altcoin season cycle should occur close to the end of this year, Q4 2021 going into Q1 2022 paired along with a spike in the price of Bitcoin and the rest of the crypto market.
History doesn't repeat itself, but it often rhymes.
BTC.D Dominance Dominance dumping soon so pump for alts coming ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
BTC.D . who takes the crown? I look at this and I cannot imagine that BTC can stay on top of crypto when the main goal of BTC is reached - introduce mases with concept of digital money. Question stands whos gonna rule after next cycle? As that famous conversation in a tv show. "Jack,this was always the future, hard cash is fading (..)"
HBAR / BTC - BTC.D in Rising Wedge, Alts in Falling WedgeAt the moment, it looks like Bitcoin wants to rise against alts, and it may do so in the short term, but mid to long-term a rising wedge coming out of a downtrend is a bearish continuation pattern for bitcoin dominance, while a falling wedge coming out of a downtrend is a reversal pattern.
Hence, I think there's a good chance alts like HBAR and others are going to see some pretty nice gains against bitcoin. Preface this with the fact that patterns like this aren't always successful, especially in crypto, but they are "reliable" most of the time. Keep an eye on both and let's see if it does what it is supposed to do.
Related ideas linked below