BTC.D Death Cross Formation:
The “death cross” occurs when the short-term moving average (50-day MA) crosses below the long-term moving average (200-day MA).
This is considered a bearish signal, often indicating a potential decline in the market.
In your chart, the highlighted circle represents this potential crossover or the situation after it.
The narrow trendline indicates a symmetrical triangle or wedge formation, where the price consolidates before the breakout.
The breakout direction appears to be initially upward, breaking above resistance but eventually moving downward.
The blue horizontal line at around 59.21% dominance is a key resistance area.
Bitcoin dominance has broken above the triangle for some time but may struggle to remain above resistance.
After initial upward movement, the chart suggests a downward trajectory, possibly retesting lower dominance levels (towards the 55.50% and 54% areas).
This implies a potential altcoin resurgence or broader market uncertainty if BTC.D declines.
The red and green moving averages are important in defining the current trend.
A bearish cross between these moving averages aligns with the death cross narrative and signals caution.
Let me know if you’d like further assistance or adjustments!
DYOR. NFA
