BTC Daily - We are in range, but domination tells us the way!
Currently BTC is in triangle. Thats formation that is hard to predict, so lets take a look at another instrument that influences market direction - Domination.
Rule of the thumb is "If Domination falls, it's good for alts. If Domination rises - alts will fall."
Domination is clearly bearish:
1. We got volume at top, buyer is exhausted and doesn't want to push the price higher
2. We are approaching trendline 4th time
3. Spread gets lower, we are trading near the trendline
Overall I think we may see some rise on alts today or tomorrow, depending when we will break the trendline on domination.
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
Rule of the thumb is "If Domination falls, it's good for alts. If Domination rises - alts will fall."
Domination is clearly bearish:
1. We got volume at top, buyer is exhausted and doesn't want to push the price higher
2. We are approaching trendline 4th time
3. Spread gets lower, we are trading near the trendline
Overall I think we may see some rise on alts today or tomorrow, depending when we will break the trendline on domination.
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
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