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Btcdominanceanalysis

Btc Dominance Almost at Peak??As we have seen when BTC dumps gthe dominance level spikes up significantly and we have seen some nice green days like today after pullbacks, my drawing is pretty accurate so far and we could still see a little more upside in dominance to that peak at 48%. As we can see too this level is a pivot point and there is a good chance we reject off both. We are looking for that bearish double top to then hopefully resume this bullrun, there are lots of factors as you may have seen in my previous TA's we need to see RSI confirmed above the 50. point midline, EMA ribons fully twisting back bullish, the death cross reversal ie. 50 day coming back to get ontop of the 200 day. (Keep in mind those examples are for price and for the most past its reversed when talking about dominance). The MACD still has room to run up to get that double top pattern before ultimately crossing bearish, our blue MA is coming downwards on the orange but still has a bit of moving space. One more thing i like to keep in mind these sorta timeframes are so minimal compared to looking at a macro chart say in a couple years, this is just a small blip on the chart so try not to let emotions get to you thats what causes poor decisions! Not financial advice just my opinion!
CRYPTOCAP:BTC.D
by JacobR905
BTC Dominance Double Top??!Bitcoins dominance has been rising again while the market has been taking a hit and i noticed there is a clear pattern that could definitely play out... the double top (bearish), we will have to keep an eye on this as we are pretty close to this 48% level. i think we could keep seeing some sideways and downwards movement while dominance climbs up to 48% then we would imo see a fall with our bullrun resuming. The coppock curve is getting close to the top of the zone with it slightly curling sideways and most of time we don't see sharp pivots and reverses with this indicator it indeed is market waves, what that means is we could still go a little higher before topping out this wave around the 48% BTC dominance level before coming down with the wave. The RSI is slightly curling sideways above the 50. point mark and i feel if we do see some slip in BTC dominance we would most likely see a bounce off of that 50. point then continue up to 48%. The MACD is showing no real signs of slowing down with decent separation between the blue and orange MA's, our histogram has remained bullish for 2 "cycles" now and soon enough i feel like a bearish cross will be overdue! Keep in mind with BTC dominance rising we have been seeing the markets dropping (even BTC) and i think we still will until we get that confirmed downtrend, once dominance starts falling again the ALT's and BTC should be back up and running resuming our bullrun! Not financial advice just my opinion!
CRYPTOCAP:BTC.D
by JacobR905
2
BTC dominance back to falling??!We saw a huge wick up in BTC dominance yesterday due to the massive correction. We have stayed in the descending channel and didn't even close above it, we seem like we are back on track now with dominance falling again. I figure we could see a bounce off of the 40% level but we may not because it has been weakened over the past 5 days. We almost saw a flip in the ichimoku cloud but now we are back to "normal" with bearish resistance clouds. Aswell the EMA ribbons are are continuing to push down hard on us with a little bit of a reversal from the correction yesterday, we are seeing some more downwards slopping today. The RSI came up hot from the oversold area but now spiking down. Either way BTCs dominance falling lower is very positive for the overall market, BTC could still move a bit but altcoins will heavily outshine BTC. Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
2
HUGE ALTCOIN BOOM COMING??!!BTC dominance holding up at the historical 40% level and having a healthy market correction at the same time, in my eyes this lines up perfect for a huge altcoin run soon enough, a big shakeout even getting retail investors out. I believe we are going to see a huge boom when btc dominance falls below 40%, Our 2018 altseason peak was aprx 35%. Remember that this one could be even bigger due to all the adoption by institutions. The MACD looks very bearish with a bearish flip and big slopping downwards. We have also just come off a bearish slide on the bottom bollinger band, if we see our candle start to ride the bottom again we could see a huge slip below 40%. I think once this correction is over BTC is going to stay very stagnant and not move much at all when altcoins start to fly. NFA just my opinion
CRYPTOCAP:BTC.DShort
by JacobR905
7
Bitcoin could continue to fall!BTC has been taking a bit of a hit dominance wise and price wise, dragging some of the market down but not all alts. What I am mainly looking at is the MACD we are seeing a big swing up and now seeing a very bearish looking MACD with our orange about to cross ontop of the EMA and the MACD Leader (Red) is beginning to slope pretty heavily to the downside. We could see a big drag down in most parts of the crypto market if bitcoin continues to fall, We have aprx -6.5% to the 0.3 FIB level so keep this in mind. Another very big indicator is the RSI, we have crossed a pretty good bit past the 50. point and if we don't see a recovery soon BTC will be in a clear downtrend. The EMA ribbons are beginning to squeeze together and something to watch closely is seeing if the green ribbons begin to twist below the red ribbons, this would also be a very bearish indicator. Remember that with BTC falling some coins will follow but as dominance goes lower and lower alt coins will begin to fly very very high. Not financial advice just my opinion!
BITSTAMP:BTCUSDShort
by JacobR905
VERY IMPORTANT CLOSE FOR BTC DOMINANCE!!!BTC dominance has currently broken through the very strong historic support level! If we see a daily close tonight below this aprx 50% level we will see altcoins surge more than we already are! If we don't see the close tonight i believe the time is coming and it'll happen soon, we could see a 35% BTC dominance eventually around the peak of this altseason! Looking at the EMA ribbons we are still getting lots of pressure to the downside seeing big separation in the ribbons with no sign of slowing down, same thing with our ichimoku cloud, we are getting continuously pushed down by bearish momentum. The Zero Lag MACD is coming up pretty strong but looks like we are starting to see a bit of early signs of a reversal as we approach a potential peak. Not financial advice just my opinion!
CRYPTOCAP:BTC.D
by JacobR905
Massive Altcoin Surge coming soon??!Bitcoins dominance has been getting crushed recently coming further down breaking through all FIB Levels and strong historical support levels. As of right now we are sitting right on the historic strong 50% Dominance level, i think it is slowly getting weaker and weaker as we have been testing it for the past 5-6 days. I think the break is coming soon and we could see btcs dominance continue on its bearish path, we have been hovering slightly above the bottom band of the bollinger bands and if we do slip and start to hug it again like we were previously we could see another rapid fall. Our EMA ribbons are spreading out even more bearish pushing down on us with bearish momentum and show 0 signs of recovering anytime soon! Our MACD has been pushing up but appears to be loosing steam looking like we could see a reversal in the coming days. I could see us breaking this 50% level any day now and then start the fall down to eventually 40% and even possibly 35% which was our previous altseason peak in 2018! NFA Just my opinion! rarible.com Feel free to check out my very first NFT! More to come!!
CRYPTOCAP:BTC.DShort
by JacobR905
1
Massive BTC dominance drop in the coming days?1Bitcoins dominance has been falling for weeks now and is approaching a critical support level at 50%, we have tested and bounced off once already and i believe in the coming days or week we could see a breakthrough and ultimately continue falling! When we do breakthrough this level itll be turned into heavy resistance and i think we will see another gradual fall all the way to 40%, depending if BTC dumps with its dominance we could see a big market pulldown and then Altcoins will start to boom like crazy. Remember the peak of the 2018 altseason BTCs dominance touched aprx. 35% before heading back up for a recovery. Definitely keep an eye on the bollinger bands, as you can see we have been riding the bottom band which is super bearish and ill be looking to see if that continues. Aswell as watching the bollinger bands on BTCUSD we are getting very close to the bottom band and if we start riding it a fall will be imminent, NFA just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC DOMINANCE GOING EVEN LOWER!?Bitcoins dominance has been on a continuous fall and we are now approaching the 50% dominance level! I think we could see a bit of a hold or bounce here in the short term but i think the continued fall is inevitable, we could see a fall to the 40% and then finally the 35% level. The 35% level was the absolute peak of the 2018 altseason and IMO i think this years going to be a even bigger and better altseason that we are just getting started. It is very impressive to see for the most part bitcoins price has been going opposite to the dominance! We are getting very heavy pushdown from both the EMA ribbons and the ichimoku cloud, the ribbons look like they are starting to open up even more creating more bearish pressure. We are seeing a very bearish cross on the Zero Lag MACD, Our orange has just crossed the blue and the Red MA is starting to come down fast. The histogram has printed a bearish bar and IMO i think we could see this continue for the next several days! My personal opinion for timeline for altseason and aprx from today is 2-3 months. NFA!
CRYPTOCAP:BTC.DShort
by JacobR905
4
BTC dominance fakeout or more downside?! *In relation to my last post* BTC dominance has held up below our long term 57% level which is historically one of bitcoins strongest dominance levels. I see this playing out in two different scenarios, First i think the continued fall is inevitable but we could either see a fakeout for right now and see at some point a climb back up above 57% maxing out imo at 60% Dominance and then continue to fall and once again break the 57% level and continuing down for a big altseason. Or we don't see a fakeout happen and we just continue in the downtrend we are in. We have two more strong major levels of support which i think we will see bounces off of the first time we reach them, 50% dominance and 40%. After that we have the 35% level which was the exact peak of the 2018 altseason, I think we could see BTCS dominance could reach here again by the end of the year resulting imo the most explosive altseason yet. Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
6