Bitcoin Dominance letting Altcoins fly?Right now a lot of people are ready to send BTC.D to anywhere from 50 to 60 %.
50 % would be and obvious level to get rejecting and for the chart to turn around.
I've said it before. I believe we will see Dominance go to 47-49 %.
One last $BTC drop to $24-26,000 sending Dominance up in that area. That dip won't be long and Bitcoin would be back around $30,000 in no time.
More and more will start believing Bitcoin has bottom -> Faith in Etherium and Altcoins will be restored -> Dominance falls.
Be careful out there.
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Btddominance
#BTC/USDT 1HR CHART UPDATE !!Hello, traders welcome to another BTC/USDT chart update.
As we can see at the above mentioned chart that BTC is trading at resistance level inside the huge parallel Chanel .
Here we can witness that BTC broke and retested the triangle pattern inside the parallel channel and pumped almost 5.5% from the retest zone.
At the current scenario BTC needs to break and close above the upper trend line resistance in lower trend to rally towards the price level of $33k.
Rejection from the current level will again lead down towards the price level of $29600.
Most of the ALT coins are forming triangle pattern breakout but IMO, we should keep our stop losses tight at this market point.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.