BTCD UPAfter quite some time dipping, now dominance has reached to a major support and seems like at least the short term trend has changed, the chart is as clear as it gets, all details in!
BTCDOMUSDT.P trade ideas
Rising BTC dominance? Unlike any other markets, crypto tends to be the most technicals-respecting and here we might see btc dominance preparing for a bounce. 1,081-1,100 is what I see as the likeliest targets to be met in the near future
$BTCDOM/USDT 2h (Binance Futures) Ascending triangle breakoutBitcoin Dominance just broke-out bullish and is likely to continue short-term after 50MA retest.
Current Price= 1080.1
Buy Entry = 1080.4 - 1072.5
Take Profit= 1104.2 | 1125.6 | 1156.7
Stop Loss= 1052.3
Risk/Reward= 1:1.15 | 1:2.04 | 1:3.33
Expected Profit= +20.64% | +36.56% | +59.68%
Possible Loss= -17.92%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 8x
Estimated Gain-time= 5 days
BTCDOM LongBased on the chart we can see the uptrend has been broken and the rate has come down to the previous super strong support zone and it's ready for the pullback to approximately where I pointed which means a few days of Altcoins dumping.
BTCDOMUSDT RSI DIVERGENCE SHORT OPPORTUNITYclear bearish divergence on the RSI and also at a strong resistance are. targets are labelled above. GG
$BTCDOM/USDT 30m (Binance Futures) Ascending channel breakdown#BitcoinDominance broke-down locally and is likely to retrace in the coming days.
50MA seems to be acting as resistance now, that would be a good thing for altcoins relief!
Current Price= 1113.8
Sell Entry = 1116.2 - 1128.8
Take Profit= 1073.0 | 1025.2 | 992.5
Stop Loss= 1162.2
Risk/Reward= 1:1.25 | 1:2.45 | 1:3.27
Expected Profit= +17.64% | +34.68% | +46.32%
Possible Loss= -14.16%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 4x
Estimated Gain-time= 5 days
BTCDOM - OverlookMany people have gained lots of profits but trading this but since you can see how this market is falling apart, I'd suggest not to play with this at least for today!
There's really not much to say for now, we should just wait and see what will happen!
