BTC Dominance compressed in the blue apex and now we pushed higher, this indicates that BTC is ready for some new highs.
If you look at BTC price action, you will see we're getting close to 40k again and we may soon push towards a new ATH.
In terms of dominance, we seem likely to re-test the 72% resistance. Alts like DOT have done some fantastic runs these past few days, so we may have a situation where the whole market is growing fast, including alts.
It is hard to say now if BTC dominance will grow higher to 80%. Alts are keen to catch-up. So we have to wait to see how BTC reacts at around 70% and if the current support line holds.
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Wops, we may have been wrong on this one, BTC Dominance breached support soon after exiting the triangle. Alts are pumping hard!
awesome chart again! LTC is lagging compared to BTC hope it catches up
DU09
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@JaiHanumant, Thanks, this would suggest BTC may take some more spotlight soon, lets see if it can pass ATH level again.
matinmehri
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Some adviser think should short BTC when it reach to 44K, what is your idea?
DU09
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@matinmehri, Don't short BTC unless you want to lose money. It's extremely hard to guess a top and short it. I see the next resistance at 46k. Why 44k? Also BTC Dominance shows we will go higher, this is not the time to short.
matinmehri
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@DU09, I know all Charts show bullish market but the market isnt wild enough and it seems all market is calm!