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5 Important Points About BTC.D🦍BTC.D or Bitcoin Dominance is one of the most important factors for investors to find out, if it is better to keep more Bitcoin in their bag or Altcoins. Don't forget, it's not all you need to make your decision but it's the important one! To make a decision about BTC.D, I've checked multiple parameters on weekly time-frame chart, so we dive deep into them one by one. Let's hit it. #1: Indicators (RSI and MACD) : MACD is showing a bullish divergence on the chart, that means the bearish momentum is getting weaker. It doesn't mean we're going up, but it means if any bullish power happens we can easily go up because Bears are weak now. Let's check RSI on the chart, the RSI is completely moving above a ascending trendline (Yellow line). Until we're above it, then BTC.D is good to go up. It looks like RSI is going to touch it's trendline again, if it does, I'll consider it as an important date to check my altcoins to swap with Bitcoin. #2: Consolidation channel for 1.5 year : This is a very strong and important channel for BTC.D because it has trapped BTC.D inside of it for more than 1.5 year, and many traders have used it to accumulate more BTC. How? Swap altcoins for Bitcoin in the bottom of the channel and the opposite in the top of the channel. Now that we're very close to the bottom of the channel so we have to consider swapping again, from Altcoins to Bitcoin. But be careful, you have to check each of your altcoin's chart one by one before making any decision. #3: Very strong support area (green area) : At the bottom of our consolidation channel, you can see a green area that is the strongest support area in BTC.D history. Because almost every time BTC.D had reached this level, it has forced BTC.D to move upwards. The overlap of this support area with the bottom of consolidation channel makes me seriously consider to swap most of my altcoins (with capital/risk management) with Bitcoin. SO TAKE BTC.D AROUND 40% SO SERIOUSLY. #4: BTC.D All Time Low : It is possible to have a downward fake breakout to 35.4%, because this is BTC.D ATL (all time low). It has happened before, so I'm still bullish on BTC.D unless this area is strongly broken downward. Other than that I believe we're in the BTC.D floor or at least close to it. It means, I prefer Bitcoin to Altcoin for long run as this is a weekly time-frame. #5: Comparing Bulls and Bears : I compared last two waves in the consolidation channel, greens from bottom to top and reds from top to bottom. As you can see on the chart, it took 20 candles (week) for bulls to go from bottom to top and 13 candles for bears to cove top to bottom. It means, in last two waves bears we're definitely stronger than bulls and we didn't see enough momentum in bulls. Although BTC.D is on the floor but my impression is that, BTC.D doesn't have enough momentum to break the channel upwards with one bullish wave. I think we need at least one strong correction in the middle of the road, before upward breakout. This will be my tough about breakout unless we see a super strong momentum when the bulls start pushing BTC.D. I wanted to add something else about this breakout, no matter when it happens, the target of BTC.D will be something around our green area (58%). So that date, will be a good time to check the market to swap Bitcoin for Altcoins. Well, this is my analysis on BTC.D, don't forget this is a weekly timeframe, so it is for long-term investors not short-term traders. Feel free to add up your ideas about my analysis in comment section, I do like to discuss different ideas with you guys to educate ourselves and take the best out of the market.💖
CRYPTOCAP:BTC.DLong
by ArshiaZojaji
13
Is BTC really ready to break ATH?To be honest, i don't think so, at least not until the purple area is broken, the area is a very important one since the sellers from the last drop are very interested to sell their remaining assets at that level again BUT as Elliot waves shows, there is clear ABC happened by the drop and a new 5 waves is about to take place, not too far from happening though but the purple area should break and the supply area should be invalidated for it to go up, IF it goes up the next target areas are already on the chart. BUT be careful, as RSI trend-line suggests, the purple area is highly to reject the price for a while, it either breaks, or falls even more in this period a consolidation of price could occur which results in a growth in Alts if you have any tips or ideas share with me :)
by TheCryptoFork
I am Feeling bullish ... only time will tell ... Not in a leverage long position However I am Always in a hodel position :) Expecting Price action to rally or rise over the next 24 hours ... time will tell ... The Usual Disclaimer: I am just having fun This is not financial advice I am not your financial adviser I am publishing my chart for personal historic archival Purposes Trading or speculation is extremely risky Bitcoin is extremely volatile Never invest more than you are willing to loose Always do your own research the market is not your friend it is like riding a bucking bull always looking to buck you out of your position :) BTC Quotes : BTC the Truth Machine BTC the electro Dollar BTC Rules without Rulers BTC code is free speech BTC might be our only shot at separating money and the state BTC magic internet money BTC not your keys not your coin BTC like having a Swiss bank that can fit in your pocket BTC personal financial sovereignty BTC the cat is out of the bag BTC digital Gold BTC the price action and its story can be found in observing the lows not the highs BTC banking the unbanked BTC do what you want when you want however you want BTC a system not based on debt while also being outside of the current financial system BTC the native currency of the internet BTC live 24 hours a day 7 days a week 365 days of the year Plan B quotes - 46M millionaires in the world, only 21M BTC - can't use gold or $ in space or Mars, need something else - nobody can freeze account or block transactions - 0% interest rate is better than a negative interest rate” if you have any BTC quotes please share them with me in the comments below :) I would like to show my appreciation to: WyckoffMode, BitFink, Joris Duyck, LonesomeTheBlue, 100kiwi, Bigits0, LazyBear, xSilas, Ni6HTH4wK, leifcr, Alex Orekhov, Alexgrover, midtownsk8rguy, Anupam Dutta, Franklin Moormann(cheatcountry), shayankm, TORYS, for all creating such fantastic awesome public scripts and publications as well as many more I have forgotten to list ...
BITSTAMP:BTCUSDLong
by iamthree