Nov 20, · Bitcoin dominance is the percentage that measures Bitcoin’s share of the WHOLE cryptocurrency market capitalization measured in percentages. Since altcoins fail to recover, we see bitcoin dominance in a strong recovery. Investors taking their profit either to USD or Bitcoin. Where we will see a strong bounce to the upside, if it breaks the neckline. This doesn't mean necessarily that the price will follow. The Bitcoin dominance has been falling ever since september of Since late august of it has been rising though and altcoins have been bleeding against .
Bitcoin dominance tradingviewBitcoindominance — TradingView
D analysis based on patterns. While it is a consolidation formation, the loss of upside momentum on each successive There are times you need to update your hypothesis and think about different scenarios , this is one of them.
As previously mentioned, I was expecting BTC dominance to move in a downward megaphone, but it seems and feels like another potential scenario could be that BTC Dominance is targeting rang at the top of an ascending wedge. This will also allow BTC D Weekly Timeframe Analysis Update. Hello everyone, I would like to show you another reason, why I think altcoins are not "dead". If you take a look at left side of the screen BTC. D - Bitcoin Dominance You will realize the MA MA - moving average is commonly used with time series data to smooth out short-term fluctuations and highlight longer-term trends or cyclesis pointing is pointing Again, we're re-testing the bottom of the parallel channel we broke out of back in July.
For alts to make good gains, we need to stay below the two trendlines drawn bottom line is drawn from line chart, top trendline is from candlesticks.
To reiterate what was said on the chart from Nov 12, the same scenario is re-occuring and may or may not lead to another Predictions and analysis. Videos only. I don't know if we put in the 4 wave or if we've completed 5 and we're putting in the corrective waves. One thing I think is interesting to note is how many of the Alts have formed complex WXY corrections and makes me think BTC could do the same thing, losing dominance until it's finally fully corrected and everyone is fully screwed.
ReallyMe BMLemon. BMLemon , Yes, it's all possible. ReallyMe , invalidated. ReallyMe cdutler5. ReallyMe , You got me there. Previously I believed that the wedge resistance will reject BTC. At the moment the Alts look fine because they strangely have become positively correlated to BTC. This happens Since the start of November there's a noticeable amount of bullish sentiment surrounding Litecoin.
Instead of moving back to the lower trend line of the wedge, it made an unexpected bullish move. This bullish move broke the 4-year wedge, without any signs of stopping soon. One more punch for alts before a reversal. Bitcoin is currently on a descending broadening wedge signifying that there's a huge ALT coin season coming soon over the horizon, possibly early December. Although currently Bitcoin's dominance is rising to the top of the descending wedge because of investors selling the altcoin positions into bitcoin we expect that it will be rejected at the top of the BTC dominance break out from the support zone.
One more resistance descending trendline to break before the real BTC season starts. The BTC.