Bitcoin Dominance Chart Analysis Короткая

Market Cap BTC Dominance, %CRYPTOCAP

Описание

⋅ 12 окт 2021 г., 17:28

People ask a lot about this chart, Bitcoin Dominance (BTC.D).

Currently, we have some bearish action developing even though it is early on.

We are used to reading early signals and this is pointing like a correction is about to show up.

Now, how far down can this one go?

We are looking at a correction but not a bear wave/market, with this in mind we aim at a higher low.

The 0.5/0.618 Fib. retracement level looks like a good support.
This is also close to EMA50 which also tends to works as strong support.

The RSI is already trending down after a lower high.
Same with the MACD.

This is all expected and we are not surprised.
We need one final strong correction before Nov./Dec. If we really one to see 100K or beyond.

This is what I see coming from this chart mixed with all the data that I have from reading Bitcoin for the past 8-12 months.

If you agree or have a different opinion, share it in the comments section with us.

Thank you for reading.
Thanks a lot for your continued support.

Namaste.

Комментарии

robileak

⋅ 12 окт 2021 г., 17:44

sir why alts not pumping

AlanSantana

⋅ 12 окт 2021 г., 18:00

@robileak, Why should they?

The Altcoins have their own cycle.
They are in a long-term bullish cycle that needs to mature.

With thousands and thousands of altcoins pairs now it takes very long for them to move.

robileak

⋅ 12 окт 2021 г., 18:02

@AlanSantana, okk thanks sir

DC92T

⋅ 12 окт 2021 г., 23:17

@robileak, Gotta find a good Alt that has retraced to the .781 or .886, let it run and backtest that as support and then you will see some gains. In 2017 it was all about the name, the hype and the YouTube guys pushing certain Alts, it's still that way to some extent but the chart itself is far more important. If you're not a trader I'd DCA dollar cost average buying some Crypto every week or month and continue to hold it. If you buy what you can afford you'll never even feel it, just let them run. Look at what happened this year to DOGE and XRP, both of them made allot of people allot of money. Buy a little, allot, whatever you can, we are still long away from adoption but once an Alt retraces and starts to move all the traders that have been watching it jump in and it chases its ATH and beyond sometimes...

robileak

⋅ 13 окт 2021 г., 02:09

@DC92T, thanks brother thanks a lot

CryptoChillin

⋅ 13 окт 2021 г., 02:59

@DC92T, bruv, can you have a look at the Bake/BTC chart. Screwed up big time, forgot my stop loss and it dumped hard. Just wondering if I should take my almost 40% losses and stick my Btc into a 'faster horse'. Or should I should just stick and wait and hope for Bakery Swap to recover?

DC92T

⋅ 13 окт 2021 г., 07:21

@CryptoChillin, Hey bud, I wish I could give you more hope but based on the chart I'd never had touched this asset, it hasn't made a higher high in months. It's been in a downtrend channel and it's trying to find some support now. The good thing I see is that there is both bullish divergence with the RSI and the MacD and that's something a trader looks for. BUT, if BTC can't hold the level it's at it will probably continue it's downtrend channel. Pray for BTC to go sideways, I generally avoid the BTC pairs unless there's a good chart. The chart only goes back until the end of June so unfortunately there isn't allot to work with.

CryptoChillin

⋅ 13 окт 2021 г., 08:10

@DC92T, cheers m8. yep, screwed up big time.

DC92T

⋅ 15 окт 2021 г., 03:40

@CryptoChillin, Yesterday it shot up to .00004260 and then settled down to .00003550. IDK what your entry was but that was a decent jump and would have been a chance to trade out of some of your hold. I published the chart for BAKE/BTC - A learning experience for both of us.

umeister

⋅ 12 окт 2021 г., 19:33

Is it best to step out and go into bitcoin after the correction? Can the dominance go back to previous support? BTC sideways movement for 2 weeks?

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