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Dominancebtc

Elliot wave perspective on bitcoin dominanceHello fellas, we've seen a huge moves on bitcoin in these past few days and in this specific post, I want to do a quick update analysis about the dominance of bitcoin. If you've seen my previous analysis about the correlation between bitcoin dominance and the bitcoin's price, you should know that lately bitcoin's price has a positive correlation with the bitcoin dominance. Looking at the chart, I use the daily chart which is pretty consistent for the use of swing trader and has a great confirmation whatsoever. Based on EW perspective, I see that the period between September 5th, 2019 - November 12th, 2019 was the A corrective wave in bigger cycle. And with this fact, we can easily see that the A wave has formed a type of Falling wedges or usually known as a leading first wave diagonal. Usually, after this action, we will see the B wave that correct the action of A wave in this market cycle and the B wave could spike to the upside that moves align with the golden pocket zone. But, other than that, we must consider the 70% level as a strong resistance for this dominance structure. with the price of bitcoin has a potential to touch again $8000 region, I do believe this dominance will have the similar spike as bitcoin has. The higher dominance level of bitcoin means the higher money inflow of the bitcoin and if more money inflow occur on bitcoin, we will see the demand spike comparing with the number of supply of bitcoin which will affect the increase of the price on bitcoin.
CRYPTOCAP:BTC.DEducation
by julio24albert
Whats happening with BTC?We can see that BTC. D is dropping, and will continue to drop till it hits resistance around 67%, a trend reversal around these zones is possible. We can use this to influence our bias for BTC , Bitcoin will continue to drop until its dominance regains upward momentum. The Bearish momentum doesn't look like its stopping soon, the alligator MAs are spreading out showing fast price movement in a downwards direction.The red highlighted zone is the work case senario for BTC.D with a drop down to the 65% region before the trend reversal. We are looking at the reversal starting roughly at the end of 2019, with bullish momentum at the start of 2020. Possible BTC 16K outcome by the end of this bull run. BTC has potential to make it to 32K with the amount of Buyers and sellers there are. We shall see how the market responds to these key levels before making huge predictions and be biased.
CRYPTOCAP:BTC.DShort
by aaryanmistry_
Can you chart Bitcoin Dominance?Does it make sense to chart the dominance of BTC marketcap over the rest of the crypto market in the same way you would chart a pair like BTC/USD for example? On the chart is an indicator I made from the Ichimoku Cloud, it simply goes long when prices closes above the conversion line (in yellow) and short when it closes below it. As you can see, following this indicator blindly would result in positive gains over time were you to take advantage of the signals generated here. The conversion line period is 6 for reference. I have see a lot of analysts commenting on the dominance chart as a measure of how well alt-coins are doing against BTC. This is more a question than an idea - does it make sense to apply technical analysis to this chart? Are the rules the same? Why is it different? Why isn't it? For the purposes of this being an idea, it appears that BTC dominance is currently in a downtrend, is below the yellow conversion line and this is reflecting in the broader alt-coin markets
CRYPTOCAP:BTC.D
by bennef