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Btcdominanceanalysis

BTC Dominance Update!!Little update for our Bitcoin dominance before we head into the weekend and the very first thing i notice and that ive been talking about the past couple TA's is the current support level at 44.68 we aare once again seeing a push below here which is going to be key if we can see a daily close again under this level, will add to the already bearish pressure on BTC, and will significantly boost the altcoins if we continue to drop and will open the door for an explosive altseason, although we do need to fall much lower in my opinion to get that super altcoin cycle. I talked about previously, in 2018 at the peak of altseason we saw a bitcoin dominance push all the way down to aprx 35%, i am looking for something similar here, obviously going to be a longer process but of course is doable. There is also the chance we see a further drop past 35% dominance due to the simple fact that crypto as a whole has grown tremendously and especially altcoins, theres a chance you were hearing about bitcoin in 2018 but majority of people had no idea about altcoins and even BTC for that matter, pair that along with the massive institutional adoption and exposure this could shape up to be an altseason like we have never seen before! Atleast im praying lol! Now lets take a peak at some indicators and we will start with the bollinger bands, we arepushing well below the midline which is now resistance and we are getting somewhat close to that bottom band, we have had a few wicks down pretty close to it and if we do manage to grab on it will likely ignite a bigger drop, taking out many resistances on the way down, if we do see this play out we can definitely expect altcoins to really take off, there is a chance that BTC will drag the market down initially but once we find some footing or settle thats when majority of altcoins will begin the takeoff! Now the RSI as i always talk about that midline is absolutely crucial, in this case we want to see a further push down below and for it to stay in the lower half, in turn we will be considered in a confirmed downtrend and could definitely be a prolonged one and of course this will be great for the altcoins! We do however have some support slightly below our current level and then a little bit further down, these levels are not very strong at all, we could see a bit of sideways movement along them but i doubt it will last for very long and they definitely will not hold up if we do catch a big slip on that bottom bollinger band! Lastly the Squeeze momentum indicator, in my last TA i went over the chance of us pushing past the midline and into the bear territory and we have done exactly that, we are on our second red bar and it is significantly bigger than our first one, this shows there is a clear rise in bearish momentum and this will likely play out to be a bigger bear squeeze. The black crosses indicate the squeeze portion of this cycle and the longer we stay in a bear squeeze the much more explosive the sqeeze release will be, and that is indicated by the black crosses turning white and you can refer back to the previous bull squeeze we just went through to see the explosive affects of the release portion of this indicator, overall for this indicator the main thing is that we keep seeing increasing red bars day after day putting lots of power in the bears hands and ultimately seeing a big drop in BTC dominance! Not financial advice just my opinion!!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC.D Continuing To Fall!checking out bitcoins dominance we have gone on quite the fall recently and the altcoins are absolutely loving it! We are currently getting held up on the 44.75% support level and this is our forth day testing this level and i believe we could see a breakdown coming up soon, there is a chance we continue the sideways movement aswell but either way i think the altcoins are going to continue to thrive! Each time we see a drop no matter how small or big the altcoins start to pump, and currently Bitcoin dominance is pretty high imo and there is a likely chance that we see a further drop, i personally am looking for a longer term target around 35% BTC dominance, during the peak of 2018 altseason we saw a bottom out around 35% dominance and id say that is for sure doable again, honestly could see a further drop than that aswell since majority of the altcoins have gained a lot more exposure and have increased heavily since 2018. Looking at the bollinger bands we have fallen below key support coming from the midline which is now resistance and this is what we want to see (if you enjoy altcoin runs) a drop below current support levels also opens the door to a grab onto the bottom bollinger band which is sitting above our next major support level at 43% if we do see this play out it will likely ignite a massive altcoin run as bitcoins dominance could slide much lower cutting through many major support levels on the way. Lets take a look at the RSI, we are right on the midline and are pointing heavy to the downside, a break below here will be key aswell for the alts, if we do see this happen we want to watch for a rejection off the midline if we start to push back upwards, this is very important because if we fall below the .50 and can't recover we are looking at a confirmed downtrend for BTC dominance and that is exactly what we need if we are going to see a massive, explosive altseason. Keep in mind we could see some sideways movement like i talked about earlier before fully breaking below but we will have to keep a close eye on this as the RSI tells a much more important story rather than just "overbought and oversold". Now the Squeeze Momentum indicator, we are in a rapid decline on the histogram showing a decrease in bullish momentum and we are slowly but surely approaching the midline, we want to continue to see decreasing green bars day after day and then ultimately a push below the midline and into bear territory, if we do see this play out there is a good chance we could see a large bearish squeeze and release creating big pressure to the downside. We already saw our bull squeeze release for this SMI cycle and it was a pretty large one which opens the door for a pretty large bearish version! Keep in mind that if we do see BTC.D fall hard BTC will also fall dragging down the market initially but after that initial drop the altcoins will begin to surge and fly high! Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
#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
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
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
CRYPTOCAP:BTC.D
by ProTradingPoint
4
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!
CRYPTOCAP:BTC.DShort
by JacobR905
3
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 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!!!
CRYPTOCAP:BTC.DShort
by JacobR905
6
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
#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

CRYPTOCAP:BTC.D
by Cryptorphic
7
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 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

CRYPTOCAP:BTC.DShort
by Cryptorphic
2
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!
CRYPTOCAP:BTC.DShort
by JacobR905
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!
CRYPTOCAP:BTC.DShort
by JacobR905
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 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!
CRYPTOCAP:BTC.DShort
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