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Dominancebtc

Bitcoin Dominance - where is it going?Technical analysis – Bitcoin dominance This is the start of a weekly series by which we dig deeper into charts related to the blockchain space. We will purely focus on the technical aspects instead of fundamentals. Do not consider any analysis as financial advice. Today we would like to start by analyzing the Bitcoin dominance chart as Bitcoin had the chance to climb to ATH at around 64k USD in just a few weeks from the 42k USD level. Altcoins were mostly going sideways or lower with a few exceptions. Looking at the chart we can confirm the bullish sentiment of Bitcoin pairs by observing the Bitcoin dominance to have grown from 40% to around 47%. Here the 0.23 FIB lays, which could serve as the resistance level for the trend to reverse. However, we are reaching >70 RSI daily, which usually leads to more bearish activity in the days to follow, if bulls cannot keep this momentum up. Once MACD is going to converge, momentum will shift to the downside and altcoins have the chance to grow. If we are staying below the previous local high at 49%, we should not worry too much about altcoins bleeding out. If we break 50%, things could look different mid-term and Bitcoin might regain more dominance in the coming weeks. Staying below this key level could signal us that altcoins still dominate the long-term trend.
CRYPTOCAP:BTC.D
by STORM_Partners
I would not carelessly consider BTC dominance to be a non-issue.People are so sweetly enamored with the rising alt-market that this picture in general seems very dull and safe. Yes, we have some chance of the diagonal (and there goes the EMA200 as well) being rejected. But I don't like the fact that this diagonal test will take place in conditions where the candles are already trading above the cloud. It is a completely uncertain situation. If there is a breakout, it will hurt everyone who has been buying altcoins for the past two weeks.
CRYPTOCAP:BTC.D
by averkie_skila
2
This end of the year bitcoin will show why is the #1We have the famous double bottom that everyone is talking about. I mark a horizontal resistance that in my opinion is where it will stop shift to the upside. However, if we cross the line with high volume there is a chance that we see a continuation. If the latter happens I believe that it will end up somewhere inside the rectangular area. There is a lot of volume on that region an it could ether be what it stops the trend or where it consolidate and move horizontally.
CRYPTOCAP:BTC.D
by QuantumRod