BTC Dominance pushed into the 200MA on August 2nd.
On August 3rd, it got rejected and closed below the 62.25% key resistance.
Today, August 4th, that same level is acting as resistance again.
If today's candle closes below the BB center (orange),
we could see another move back to the bottom of the range
with the 0.382 Fib near 60% as the next key level to watch.
Momentum is fading at resistance.
Structure favors a deeper retest.
We’ll be here to watch it unfold.
Always take profits and manage risk.
Interaction is welcome.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.