BTC.D - INVERSE HEAD & SHOULDER PATTERN BREAKOUT BTC.D has breakout nicely its inverse head & shoulder pattern, a little pullback / correction currently. Will expect another run for btc to ath, before being follow by altcoins.
Btcdominanceanalysis
Altcoin NO MOVEMENT - BITCOIN DOMINANCE STRIKES UPWARDRecently you may have noticed while BTC price is surging, but altcoins have remained stagnant. The reason behind this can be found by looking at the Bitcoin dominance chart.
The simple theory is Bitcoin dominance down altcoin go up
Bitcoin dominance up altcoins go down
I treat this chart like every other, as it always indicates when an altcoin season is more likely to happen.
When looking at this chart, I keep it simple by focusing on Support and resistance as I have found these levels get respected.
Currently, we can see dominance hit previous resistance and is now beginning to retrace.
Expecting to see a retracment back down to 43%, and from there, I will monitor how dominance reacts at this level.
LIKE OUT IDEA FOLLOW AND COMMENT.
Short term, we could see some altcoin relief; however, if dominance breaks 45%, then we could look to reduce some altcoin exposure
BTC Dominance Fake Breakout!!?Checking on how are bitcoin dominance is doing and we find something most wouldn't have expected, a breakout to the upside of this historically bearish pennant, but it may not be what it seems and i think this could be a fakeout scenario, we are currently breaking up above the 42.37% heavy resistance line and will be fast approaching the 42.62% heavy resistance line if we continue. But what im noticing from many indicators is that technically we are looking very bearish as you all are aware, ive been talking about this hidden bearish divergence continuation pattern and bearish pennant pattern a lot over the past week. First lets look at our RSI, we are once again up and around the previous highs resistance line and we could definitely still see a bounce off and fall down like we recently just saw, we aren't in a confirmed uptrend yet it is just way too close to call plus we haven't spent much time above the midline yet. Now check out the MACD we are sort of looming on a bearish cross and have been for some time now, we are seeing a very flat and even sometimes decreasing green histogram showing bull momentum trickling away and our MA's are very very close together slowly moving upwards, but one move could trigger a huge bearish cross which i personally think is likely after this long drawn out green period. Now lets take a look at the bulls and bears power, we clearly see much greater bear power on BTC's dominance, we however are seeing a slight pop up in bulls power likely due to the couple solid green days we just had, we notice our black trend line is approaching the midline and we definitely want to watch this as we could see a shift in power coming up soon, or we could get a strong bounce and continue of where we currently are! Overall i think we are still going to see a big crash in BTC dominance due to many factors but the biggest being the clear hidden bearish divergence which is a continuation of trend pattern, and when this pattern popped up we were in a clear strong downtrend signaling a continuation of that, and keep in mind sideways movement can play out for a little bit and usually always leads too a strong move and once this sideways action is over i personally see us falling to the downside, could be tomorrow could be in a week, the divergence patterns almost never play out right away and can take some time so keep that in the back of your mind knowing that we could be in for a fall sooner than later, and as i said before and i will say again if we do see a big drop in dominance bitcoin will feel that fall and therefore altcoins will for sure take a hit initially, but afterwards we can expect some big gains! Not financial advice just my opinion!
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!!
BTC Dominance Hidden Bearish Divergence!!!Checking out BTC's dominance i have found something very clear if you know what you are looking for and that is a hidden bearish divergence, and yes this pattern signals a continuation of trend, and we are very clearly still in a strong downtrend as shown by the multiple move path to the downside and aswell as the RSI being below the midline for months now. So by the looks of this very strong pattern we are set to continue the downwards fall on BTC's dominance meaning altcoins will thrive soon enough! Now there is a couple different ways to look at this and they both point to the same thing, look at the purple trend lines on both the candle sticks and the stoch RSI, the candles show a lower high while the stoch RSI shows higher highs which means a hidden bearish divergence! Now look at the yellow trend lines on the same two areas, the price action one shows again a lower high while the stoch RSI shows a higher high signaling once again this bearish continuation pattern! This overall is very positive for the whole market but especially altcoins, with BTC dominance likely too continue its fall as we get lower and lower we will see altcoins start to have some explosive breakouts! Now whats even more interesting and more bearish is the fact that we are actually trading wiithin a bearish pennant, this pattern is known to be historically bearish and as we approach the apex point of the pennant we can expect and watch for a breakout of the bottom of the pennant, and likely an explosive move downwards as we have 2 very very bearish patters playing out ontop of eachother! Now check out the RSI we are at the midline which does act as resistance currently but even if we do break above here i think its going to be short lived as we have strong longer term resistance directly above and this level hasn't been visited in months so i would personally expect a big rejection off here. The stoch RSI besides playing into the hidden bearish divergence is actually into the overbought zone adding to this bullish looking chart! plus the resistance levels we will face if we do move up more! Now finally the MACD still is moving bullish but that is clearly fading away as we are seeing a decline in the green bars day after day and with us approaching that midline which acts as resistance, plus we are getting very close with the orange MA so any sharp moves down will almost 100% lead to a bearish cross. Like i have said before these patterns don't have to play out the next day to still be valid and we could see this draw out over the rest of this week or maybe not, i think something huge is coming and we should start seeing this play out the closer we get to this pennants apex point which is roughly 2-3 days away! Not financial advice just my opinion!!!
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
#BTC Dominance 100% Perfect Prediction! What's next?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.
BTC dominance started falling from the 48.6 level (the circle) we called the alt season at that time.
Many altcoins already went 4x to even 10x.
The question here is, is it over already?
I will keep this simple for you...
If we hold this 41.8k level by this weekly close we can expect some bounce which will give us some opportunities to buy Altcoins at cheap prices.
Any close below the red line leads to alt season
Lower support is at 39.03 and 36.33 levels.
I am. holding my altcoins on spot for now.
What's your thought on this?
Do you think this correction is over?
Do you think ALTCOINS could easily pump from here?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
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!
BTC Dominance appears to found support in 40 zoneMade this graph on July where the blue vertical line is marked, as you can see dominance appear to found support, and we had a small Alt Season Recently.
BTC currently trading in 52500.
Alts are going crazy right now.
At this point a BTC rise with the dominance is logical, if this happens we may have alts bleeding.
Be Carefurl on your alts trading.
Regards.
Eng. Alexa.
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!
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 Dominance Broke down, Alt Season? Part IIWelcome 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.
Dominance broke down and followed our speculated move exactly as shown in my last chart!
I expect the dominance to break to the downside, Reasons:-
1. Ascending Wedge Formation.
2. Broke below the Triangle with perfect retest and continuation.
3. Broke and closed below 100D MA which basically shows us the sentiment of the market is shifting towards altcoins
4. I am expecting a bearish crossover of 50D MA and 100D MA in the next week which will eventually fuel the alt season!
Many indicators are also revealing signs of weakness in this index.
OFFICIALLY WE ARE IN AN ALTSEASON RIGHT NOW!
WHAT MATTERS IS IF WE CAN GET SOME SIDEWAYS ACTION FROM BTC THINGS WILL BE MUCH BETTER!!
What's your thought on this?
Do share your ideas and charts with the community in the comments section.
If you have any questions or requests do not hesitate to write them down in the comment section.
Do hit the like button if you think this analysis deserves a little appreciation!
Thank you
#PEACE
ALTSEASON ABOUT TO BLOW UP!!?Btc's dominance has been falling recently along with BTC price action and the more we fall lower and lower the more altcoins will start to explode, as we can see today already BTC is down nearly 3.5% and ETH (leader of the alts) is up around 7% or more. Now looking at the path btc dominance is on we are approaching the 45% support level like i drew with my semi accurate path, now im thinking we could see a further bounce here like we are seeing right now but i think a further slide downwards is likely. First of all we are fastly approaching the bottom of the bollinger bands which we have seen many times can easily activate a medium to bigger sized fall in price action but in this case dominance level. we need to get a break below the 45% level which could bring our bollinger band midline resistance below this level which will give us another layer of resistance to hopefully stop dominance from shooting back up. The Wave trend looks very good it seems like we have definitely topped out for now, and we are coming down to the middle of the zone which hopefully we don't see a bounce and just continue heading in the downwards direction. now the RSI is getting somewhat close to the oversold area but we have seen time and time again the RSI staying down there and waiting awhile before recovering, now even more important than that is the fact that we have broken the midline on the RSI and if we can continue to hold below here we will find ourselves in a confirmed downtrend for BTC dominance, which i think is bullish af for altcoins. if we do see a larger crash in BTC dominance its likely that the market will see an initial drop but afterwards altcoins will start to really fly, just like ETH is already doing. Not financial advice just my opinion!
BTC DOMINANCE PASSING A CRUCIAL LEVEL!!Bitcoins dominance level is on the fall once again after i thought we would see it happen a bit earlier but none the less this is positive for the market overall! We have actually passed a very crucial level here that could bring us an overall trend reversal, we have crossed the pivot point and if we can secure a daily close here we have a very good chance of turning to a downtrend which in turn could drag down the market initially but afterwards as dominance gets lower and lower altcoins will start to make some explosive moves. Also looking at the bollinger bands we are headed towards the bottom band which whenever that happens we could see a bigger fall if price action starts to ride the bottom band, very important is if we keep trailing downwards getting that midline on the BB below that pivot point will give us an extra layer of resistance so hopefully we can stay below the pivot point keeping the BTC dominance downtrend going! Now the RSI looking pretty bearish which in BTC dominance terms i see as good, we have crossed through the midline at the 50. point and if we can keep pushing downwards and hold below this line we will be looking at a confirmed downtrend, we have been in an uptrend for a months time now and i feel like we got a good chance of reversing that here and getting back to the bull cycle / altseason! not financial advice just my opinion!
BTCDOM LongBased on the chart we can see the uptrend has been broken and the rate has come down to the previous super strong support zone and it's ready for the pullback to approximately where I pointed which means a few days of Altcoins dumping.
Bitcoin Dominance - Alt Season LevelsIf we are going to see further downsides on Bitcoin dominance, these are the likely points of descent price will reach
Yellow - Extra Alt Season
Red - Super Alt Season
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!
BTC Dominance about to fall hard!!?Bitcoins dominance has been ranging from 48% to about 40% as of late and i think we are going to start to see a hard fall upcoming in the next week or 2. We are getting some support around 45% dominance and i believe once we see a full break of this level we are going to start to see this fall, we have a unusual gap at 44-43% and i think we could see a fill as thats usually how gaps go, at some point they usually all get filled. Looking at the MACD we are seeeing heavy downside and getting bigger separation in the MA's, so it looks like we are due for more downside over the next few days, after a very prolonged upside. Also something to keep an eye on is that RSI, we are seeing currently a break of the 50. midline and if we can hold underneath we could see ourselves in a confirmed downtrend again for BTC dominance, this would be very positive for the market in general, after the initial drop BTC could see some smaller moves 5-10% most likely and then alt coins will start to explode probably will be posting 20+% inna day like we have seen before these big corrections. Now this isn't guaranteed in any way but it is likely at some point we see BTC dominance crash again, now this could play out in a weeks time or even a months time. Now looking at the bollinger bands we are starting to see some squeezing with the bands compressing the candles, now almost all of the time this indicates that we are due to see a big move in the coming days/weeks. The only problem is it doesn't indicate what direction that'll be and thats why we incorporate other indicators to try and find that direction. This also ties into a big crash because if we do see this gap fill and a break of current support we will end up most likely right on the bottom bollinger band, and this would be huge because almost everytime price action rides the bottom band we see a medium to large size move to the downside. Not financial advice just my opinion!
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!
BTC Dominance Double Top??!Bitcoins dominance has been rising again while the market has been taking a hit and i noticed there is a clear pattern that could definitely play out... the double top (bearish), we will have to keep an eye on this as we are pretty close to this 48% level. i think we could keep seeing some sideways and downwards movement while dominance climbs up to 48% then we would imo see a fall with our bullrun resuming. The coppock curve is getting close to the top of the zone with it slightly curling sideways and most of time we don't see sharp pivots and reverses with this indicator it indeed is market waves, what that means is we could still go a little higher before topping out this wave around the 48% BTC dominance level before coming down with the wave. The RSI is slightly curling sideways above the 50. point mark and i feel if we do see some slip in BTC dominance we would most likely see a bounce off of that 50. point then continue up to 48%. The MACD is showing no real signs of slowing down with decent separation between the blue and orange MA's, our histogram has remained bullish for 2 "cycles" now and soon enough i feel like a bearish cross will be overdue! Keep in mind with BTC dominance rising we have been seeing the markets dropping (even BTC) and i think we still will until we get that confirmed downtrend, once dominance starts falling again the ALT's and BTC should be back up and running resuming our bullrun! Not financial advice just my opinion!
BTC dominance back to falling??!We saw a huge wick up in BTC dominance yesterday due to the massive correction. We have stayed in the descending channel and didn't even close above it, we seem like we are back on track now with dominance falling again. I figure we could see a bounce off of the 40% level but we may not because it has been weakened over the past 5 days. We almost saw a flip in the ichimoku cloud but now we are back to "normal" with bearish resistance clouds. Aswell the EMA ribbons are are continuing to push down hard on us with a little bit of a reversal from the correction yesterday, we are seeing some more downwards slopping today. The RSI came up hot from the oversold area but now spiking down. Either way BTCs dominance falling lower is very positive for the overall market, BTC could still move a bit but altcoins will heavily outshine BTC. Not financial advice just my opinion!
HUGE ALTCOIN BOOM COMING??!!BTC dominance holding up at the historical 40% level and having a healthy market correction at the same time, in my eyes this lines up perfect for a huge altcoin run soon enough, a big shakeout even getting retail investors out. I believe we are going to see a huge boom when btc dominance falls below 40%, Our 2018 altseason peak was aprx 35%. Remember that this one could be even bigger due to all the adoption by institutions. The MACD looks very bearish with a bearish flip and big slopping downwards. We have also just come off a bearish slide on the bottom bollinger band, if we see our candle start to ride the bottom again we could see a huge slip below 40%. I think once this correction is over BTC is going to stay very stagnant and not move much at all when altcoins start to fly. NFA just my opinion
Bitcoin could continue to fall!BTC has been taking a bit of a hit dominance wise and price wise, dragging some of the market down but not all alts. What I am mainly looking at is the MACD we are seeing a big swing up and now seeing a very bearish looking MACD with our orange about to cross ontop of the EMA and the MACD Leader (Red) is beginning to slope pretty heavily to the downside. We could see a big drag down in most parts of the crypto market if bitcoin continues to fall, We have aprx -6.5% to the 0.3 FIB level so keep this in mind. Another very big indicator is the RSI, we have crossed a pretty good bit past the 50. point and if we don't see a recovery soon BTC will be in a clear downtrend. The EMA ribbons are beginning to squeeze together and something to watch closely is seeing if the green ribbons begin to twist below the red ribbons, this would also be a very bearish indicator. Remember that with BTC falling some coins will follow but as dominance goes lower and lower alt coins will begin to fly very very high. Not financial advice just my opinion!
