BTC Dominance has found support at around 62% with a very nice bullish candle today. Will this hold? I think yes since BTC price action is also looking bullish while ETH is a bit bearish lately, hence, a good setup to see BTC shine again. See my ETH and BTC ideas for that linked below.
The next resistance levels are on the chart, likely we can push pretty easily to 66%, after that we will see what happens.
If however we lose our support (dotted line) then BTC is in trouble, but that seems unlikely.
Indicators on daily are also starting to curve so another 2-3 green daily candles will re-ignite the bullish momentum on BTC dominance = BTC price goes UP and alts suffer a bit.
Lets see how this day ends and then re-assess later.
Like and follow if you liked this idea!
The next resistance levels are on the chart, likely we can push pretty easily to 66%, after that we will see what happens.
If however we lose our support (dotted line) then BTC is in trouble, but that seems unlikely.
Indicators on daily are also starting to curve so another 2-3 green daily candles will re-ignite the bullish momentum on BTC dominance = BTC price goes UP and alts suffer a bit.
Lets see how this day ends and then re-assess later.
Like and follow if you liked this idea!
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 7,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 7,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
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.