Bitcoin Dominance - New Take: Possible New ATL forming for BTC.DI used to think we would reach ~50-53% for sure, perhaps even re-test ~60%, and then head down towards 36%, stopping there and heading back up. While this is still possible, I am starting to believe that BTC dominance may find a new bottom this cycle @ ~32% or even lower, and ~47-48% may be our stopping point before heading down to our new ATL.
Here's why:
1.) BTC.D confirmed a double top when we broke below 53%, and that gave us a minimum target of 32%. It's still possible we re-test 53% @ the neckline of where we broke down, but the break was super strong, so 47-48% seems more likely
2.) ALTs haven't yet had a big run against their BTC pairings. However, Ethereum offered us a preview of what this could look like a few months ago when it made its last high. Whereas, alts have yet to catch up with ETH, and they look primed to do so. On the other hand, ETH still looks bullish vs BTC as well. We may not yet see a "flippening" of ETH vs BTC, but ETH and some of the more promising new alts may eat away at some of Bitcoin's dominance again.
Let's see what happens. Previous ideas linked below under related ideas.
Btcd
BTC.D flag or wedge#BTCDOMINANCE
BTC dominance broke out descending resistance. the pattern that is forming can be a flag or wedge:
the leg up toward resistance will make another opportunity to buy Dip #BTC around $29k or $27k or $25k
And I think it is more possible to head down after touching the resistance and make another ALT season.
Are you ready?😎
BTC.D Possible ScenarioBTC Dominance is going to reject from the 46% level. I think it can come down to the 44.55% level in the first step. After that, we can see a H&S pattern and continuation of the downtrend to the 41.5% level.
⚠ The pattern doesn't complete yet, so we should wait and see what will happen.
BTC.D Resistance LineLooks like BTC.D is fighting a previous line of support, I know it wants to break through, and will but its just a matter of when.
Will DeFi or Alts have another chance to fly or will the market continue to fall with more liquidity being pulled out of Alts into BTC and stable coins?
Not trading advice.
If you have a mortgage on the line, or have put in more than you can afford to loose in crypto please be very careful and MOST OF ALL do not, i repeat, DO NOT listen to me!
BTC.D near ascending support#BTCD
#BTCdominance is near support, if success to break it down, we will have a short ALTs season again.
keep eye on altcoins and take profit on each targets it may finish soon.
But if dominance break down the support zone and drop to 24 we can take great profit from altcoins.
BTC DOMINANCE is picking up the paceEver since the May collapse and subsequent bottom, the BTC Dominance has been slowly rising back above the 1D MA50 (blue trend-line) in such a way that resembles that January 2018 bottom. As you see the LMACD isn't all that different either and if the 1D MA50 holds, the next (short/ medium-term) target is the 1D MA200 (orange trend-line).
If BTC D is in a similar situation as then, we should see the alts then gain some momentum after and then give it back for one final bull run of BTC.
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Dominance at no trade zone, Use stop lossBitcoin Dominance Update:
Bitcoin dominance is rejecting from the resistance level again. If BTC dominance breaks the resistance level of 48.3% we see more dump in alts and dominance will go towards 50% levels. The support is near the 45% area and if BTC stable for a week we will see some relief rally in alts.
Don't open many alt long positions as the dominance can go either side. Manage your risk and must have some USDT and BTC in your portfolio. Don't go all-in into alts.
BTC.D market updateHello, Traders!
After falling steeply during March-May this year, there has been a rebound in the BTC dominance chart.
The pattern in the market remains as follows: when Bitcoin's price drops, altcoins lose more value than Bitcoin, and when it rises, altcoins lag significantly behind. This shows us that Index (Bitcoin) is stronger than other assets in the market. This dynamic causes the BTC's dominance to increase.
At the moment, the price value on the dominance chart is in the range of 46.05 - 50.12
As can be seen from the past, this range served as a reversal zone in 2017-2018.
Altcoins have lost between 75% and 90% from their highs so if the current trend continues, we could see an exit to 50.12 on the dominance chart after which the market will reverse.
Good luck and watch out for the market!
$BTCDOM/USDT 30m (Binance Futures) Ascending channel breakdown#BitcoinDominance broke-down locally and is likely to retrace in the coming days.
50MA seems to be acting as resistance now, that would be a good thing for altcoins relief!
Current Price= 1113.8
Sell Entry = 1116.2 - 1128.8
Take Profit= 1073.0 | 1025.2 | 992.5
Stop Loss= 1162.2
Risk/Reward= 1:1.25 | 1:2.45 | 1:3.27
Expected Profit= +17.64% | +34.68% | +46.32%
Possible Loss= -14.16%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 4x
Estimated Gain-time= 5 days
Bitcoin Dominance Update - BTC.D Projections & Possible PathsWe've moved back up to the red box as expected. I still believe we'll see more correction up, either towards the top of the red box, or possibly even a re-test of the neckline. More likely the former.
Projections & potential paths towards them on the chart.
Previous BTC.D predictions from the same chart and other related ideas linked below.