BITCOIN DOMINANCE NOT LOOKS GOOD! BE CAREFUL WITH YOUR ALTS!!
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Welcome to this BTC Dominance update. Bitcoin dominance is inversely proportional to altcoins means when BTC .D increases Alts starts dumping and when BTC .D dumping, Alts starts pumping.
As of now, BTC dominance is not looking good. It already breaks out from the channel and pumps all the way to the 48.40 level. Now it came down to 45 levels and it looks like a perfect retest. After this retest, I'm expecting a pump-in dominance so with this pump we see a drop in Altcoins.
The next important resistance to dominance is at around the 52-54 level. So you can imagine if dominance pumps to 52-54 level then how hard Alts will dump. So be extra careful with your Alts until and unless we get back inside the channel.
Invalidation level:- If any 2-day candle closes below the 44.50 level then we entered again inside the channel and this bullish scenario of dominance will be invalidated.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this BTC Dominance update. Bitcoin dominance is inversely proportional to altcoins means when BTC .D increases Alts starts dumping and when BTC .D dumping, Alts starts pumping.
As of now, BTC dominance is not looking good. It already breaks out from the channel and pumps all the way to the 48.40 level. Now it came down to 45 levels and it looks like a perfect retest. After this retest, I'm expecting a pump-in dominance so with this pump we see a drop in Altcoins.
The next important resistance to dominance is at around the 52-54 level. So you can imagine if dominance pumps to 52-54 level then how hard Alts will dump. So be extra careful with your Alts until and unless we get back inside the channel.
Invalidation level:- If any 2-day candle closes below the 44.50 level then we entered again inside the channel and this bullish scenario of dominance will be invalidated.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
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