50K has been breached, the rising wedge top trendline has been flipped
Firms are looking to add BTC to their asset sheets to in the short term future
Thus, the BTC.D looks like it should make a leg up
As we do have a rising market cap though, I would not say ALTS will dump, I just think their growth will slow on the whole
It is likely LTC ETH XRP DOT will be some...
BTC dominance is showing significant signs of bullish divergence on the 1 day. This combined with the fact it's heading into a weekly demand/support zone (green shaded area) is pointing towards capital flow back into Bitcoin from the altcoins.
Personally I have decreased most of my altcoin positions already and am happy to sit in BTC or USDT if there is a...
The Bitcoin dominance index is currently testing multi-year support.
If the support works, the Bitcoin dominance will increase and the altcoin dominance will decrease.
If we break the support, this could be the beginning of a new altcoin season, like the one we had in 2017.
Let's see what will happen!
Bitcoin's dominance has broken out of its macro falling wedge. This is great news for bitcoin. This is bad news for altcoins. If you are FOMOing into altcoins now because your favorite crypto influencer is screaming alt season you need to start thinking for yourself.
Monfex is at your service and today we overview Bitcoin Dominance.
Bitcoin's dominance has grown slightly over the past couple of days by bullish div on RSI, but we see that Altcoins on its support levels and on the domination chart BTC has come close to the resistance:
the resistance line of the descending channel
The trend lines presented clearly associate potential fluctuations with defined stability levels -- outlining a primary-base, secondary base level & sub-base trend -- allowing for a closer analysis for future momentum.
Analysis by STUDIO VIVE Ltd.