Bitcoin Dominance Ultra-Bullish (Monthly TF) +Bullish Altcoins?

2024年8月11日

Here we have a very interesting chart, Bitcoin Dominance on the monthly timeframe.

This chart is ultra-bullish. We know this is not BTCUSDT, so it doesn't necessarily reflect Bitcoin's next immediate move, but it would be interesting to interpret the chart.


How do we interpret an ultra-bullish BTC.D chart?

➖ First, notice how we have a red candle on March 2024 and a slow and steady rise afterward; bullish consolidation. This month, we see a break above resistance.

➖ Second. We know that Bitcoin (BTCUSDT) peaked exactly March 2024, and started a very slow decline; bearish consolidation. Breaking down in early August.

➖ We are seeing BTC.D and BTCUSDT moving in an inverted fashion. Negative correlation.

👉 Bitcoin Dominance increasing can mean that Solana, Ethereum, Binance Coin and the crypto giants are about to fall strongly and much faster than Bitcoin.

What is your interpretation?

Share in the comments.

Your support is appreciated.

Namaste.