Bitcoin dominance reversal. Altcoins dominance long term trend.
The chart is 1-BTC.D, which means Altcoins dominance chart.
1-we broke a 2 years downtrend
2-the downtrend stoped exactly at the 0.618 fibonacci ratio
3-we are above the 12 months normal and exponential moving averages
4-The exponential one went above the normal
My personal opinion is that the altcoins dominance is at a long term uptrend, that started at the first wave of altcoins back in 2011. Those last 2 years are 61.8% correction. My personal opinion will be confirmed if at the end of the next bull run, the bitcoin dominance breaks it 2018 low (35%).
1-we broke a 2 years downtrend
2-the downtrend stoped exactly at the 0.618 fibonacci ratio
3-we are above the 12 months normal and exponential moving averages
4-The exponential one went above the normal
My personal opinion is that the altcoins dominance is at a long term uptrend, that started at the first wave of altcoins back in 2011. Those last 2 years are 61.8% correction. My personal opinion will be confirmed if at the end of the next bull run, the bitcoin dominance breaks it 2018 low (35%).
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