hey traders, there is ETH's Dominance, we broke the resistance so, we need a close above 20.50 for 1D bar to get the green line and it will be the Alt's season!
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trade carefully guys and don't forget the risk management & take profits.
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A Gann Fan analysis
Using the downtrend we can plot two points of Gann (2/1) and (8/1) both can be seen to be support points for the price
The uptrend Gann fan shows continually hitting of the top (1/2) seeing this we can assume that pressure is building up at this resistance point, and the bullflag that has formed above the (8/1) Gann line will smash this...
Using this indicator we can view the "alligator" eating bearishly, heavily, on BTC.D which is a sign that more people are moving to ETH
We can also see the direct effect on ETH.D with the alligator indicator eating bullishly
These are monthly timeframes
In short, it looks bright for Ethereum and altcoins, while dominance for BTC is struggling
I am long ETH
AS we are seeing, very careful double top and reducing in momentum, can forward the index into the lower level which is showing in the chart by price ticket..... in 4 h scale downtrend is more obvious than the other prediction
While btc.d is going down eth.d is going high
If eth.d is going high like a bit fast to break a resistance not to touch a support then that's what i expect else btc falls hard and other harder so btc.d might go up and eth.d touching support unless eth can naturally rise its eth.d or btc going high without alts going much high then starting to go down ... , the key...
Idea for Eth dominance
Has been rejected at 0.5 in the past and is being rejected currently at 0.5
This subtly implies that it may be rejected at .786 in the future
When dominance is around ~29
I am long Ethereum and love the space (ecosystem) that surrounds it
We are going lower to the channel trend line. ETH has a healthy UPTREND, so I expect we should not step out of the channel.
ENTRY LEVELS LONG
$1820
$1750
$1689
$1520 STRONG BUY
$1475 STRONG BUY
