BTC must go up before the end of the month to uncross the MACD. Currently dominance is near weekly support, if that breaks we can see BTC dominance at 10% supposing that the downward wave from % is an ABC 1 to 1 correction. at 10% BTC . We are currently in an apex for BTC Dominance (BTCD) which is soon to break up or down By early we will know if we enter a strong alt season with gains in double or even triple digits for alts or will BTC . Here is the analysis about BTC dominance and Alts. condition in next few days. at you see in chart bitcoin dominance formed a cup pattern and killed almost all alt coins in past few days. as we approach to a major resistance at 64~ level (fibo level) i expecting Alt party at BTC dominance rejection. sooner or later this will happen and with current BTC .
Btc dominance tradingviewBitcoin Dominance Index Chart — TradingView
Anyone that holds the majority of their cryptocurrency portfolio in Alts ought to be looking at this chart. Not even going to do any analysis, the result is already in. At this point, it could be the bottom for Alts, but it is hard to hold on to almost anything but BTC knowing that your investment performance is being slowly eaten away. This is partly to do with Hello, traders! Bitcoin's dominance has tested the Bitcoin absorbed all the liquidity of the market during its rally.
Christmas holidays are coming and traders in the stock market prefer to fix their positions. In case if big players are fixing positions on BTC, the nearest support level is at the price values of Bitcoin dominance touched On the weekly chart, Bitcoin Dominance completed the Elliott wave pattern and now the ABC correction wave is going on. The B wave is completed with a Some Elliott Wave for you. I believe we'll begin to see a significant pullback here now, which will result in the strengthening of the altcoins in Q1 Inversely i've linked a chart to Altcoin dominance below which has just seen a third touch on a long term monthly trend line which gives me added confluence for Finger Crossed.
Anyone that bought the dip on Alts, very ballsy! Btc dominance is making a HH formation. Also a ascending triangle. The next 24 H may indicate the real move. Breakabove will be much concerned for alts. This is not a financial advice. BTC dominance following Disjoint channel now its top at but i would and many ct personally think it will fall to 58 if this happen again we'll see massive spikes in alts and that would be the biggest Cryptoszn ever. Well earlier it acted as a support so now it turned into the resistance so just hope for the alts.
Not Good For Alts. Dominance tried so hard to break the trendline resistance. BTC dominance can touch 64 or 66 once again. As per the head and shoulder pattern. Its it Goes As Planned Then soon huge alts season will come as per nov. If you are already invested stay put be vary of alts they might go down if BTC breaks out.