Btcdominace — Trading Ideas on TradingView

BTC Dominance Resistance BTC Dominance Resistance The over extended RSI combined with the parallel channel resistance suggest BTC dominance would likely turn to the downside as it has done in the past. I estimated the downturn to be 7 - 12% at least but its done more damage in the past declines. I also think there is a possibility that BTC dominance could surge with a BTC price surge into the red dashed line of long term resistance and get rejected here with that 7 - 12% pull back to the 50 MA. I have included arrows with these scenarios. These are small moves i know but if you are trading alts or BTC these trigger points could help flip from one to the other, or at least help indicate alts are gaining steam. If we got an alt seasons or it eth took a run here we could see the BTC dominance take a hit. Recognize a decline in BTC dominance does not necessarily mean the price of BTC will decline, it could just mean that Ethereum or other alts are out performing its price action temporarily. I actually think BTC looks very strong at the moment, and as a long term holder I'm not toying with my position. Its a very simple chart that offers perspective in the BTC/ALT dynamic. I actually did share elsewhere with a little blue birdie before we got that weekly falling star. I only mention this so you know this isn't a reaction to that falling star. I had predicted a pullback before we got it. I hope this chart can help you with your positioning in the crypto market in the near term. It should not be used in isolation but as more as a tool to help derive what direction the general wind is blowing in for alts and BTC. Happy Trading Folks, have a great weekend PUKA

Bitcoin Dominance and ATH dates It is worth noting the action of BTC.D at the times leading up to Bitcoin ATH. It is NOT as one would expect, where the Dominance would be Topping out as an ATH is reached. It is the opposite. The PA of BTC.D Drops sharply And as more "Alts" coins come into the space, the dominance of Bitcoin WILL drop, as can be seen on the chart also. The Green box Bitcoin has been in for a long time now, is the result of 1000's of Alts coming in and taking their share of the market. This is not a bad thing but people may need to realise whast really going on. And as we stand now, BTC, fter weeks of being a front Runner, is nearing the ceiling of that Green Box and likely to meet strong resistance. IF PA breaks out, then we are on a Roll and grabbingh bitcoin would be a very good thing, mostly once PA comes back to retest the old line as support. But this al depends on it breaking out. Bitcoin itself is reaching overbought and is increasingly likely to pull back for a bit, which would be a Good thing....However, this is Bitcoin.....Could do anything.

#TETHER/DOMINANCE 2HR CHART UPDATE BY Domino Crypto!!Hello, community members welcome to this USDT.D 2hr chart update by Domino crypto. Don’t forget to hit the like button if you find this update helpful because this motivates me to bring this kind of update regularly. Now, Let's get to the chart, As we can seat the above-mentioned chart currently USDT DOMINANCE is trading inside the triangle pattern And broke the local support level of 6.04% in this 2hr chart. Now in the upcoming hours, USDT DOMINANCE needs to break below this lower trend line support and retest to give confirmation to long USDT pair ALT coins. MACD also moving down the side and printing red bars. Here, we should wait for the right time to enter the market. As USDT dominance lost 2.4% many ALTCOINS already pumped almost 20% to 25% but do not FOMO wait for the confirmation which will be the right decision. A candle that closes above the upper trend line will be the invalidation of this chart analysis. NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments. DO YOUR RESEARCH BEFORE MAKING ANY TRADES. Thank you