Hello Traders!
The dynamics of altcoin purchases in the market are shown by the decrease of Bitcoin dominance on the chart.
More and more investors are choosing riskier assets instead of Bitcoin.
After two attempts of breaking the support level of 40.12, there was a pullback on the chart.
At the moment, the chart shows a continuation of the decline and a possible third attempt to break the 40.12 support level.
If capital starts flowing massively into altcoins, the price value on the dominance chart will fall into the 36.28 - 40.12 range
A massive altseason took place in this zone in winter 2017-2018.
But we should not forget that this was the market reversal range. Do not forget to fix profit!
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
The dynamics of altcoin purchases in the market are shown by the decrease of Bitcoin dominance on the chart.
More and more investors are choosing riskier assets instead of Bitcoin.
After two attempts of breaking the support level of 40.12, there was a pullback on the chart.
At the moment, the chart shows a continuation of the decline and a possible third attempt to break the 40.12 support level.
If capital starts flowing massively into altcoins, the price value on the dominance chart will fall into the 36.28 - 40.12 range
A massive altseason took place in this zone in winter 2017-2018.
But we should not forget that this was the market reversal range. Do not forget to fix profit!
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice