BTC and BTC DOM, Reversal or Continue? Hi traders,
This is my POV about BITSTAMP:BTCUSD
On weekly TF, BTC's trading around 30150 now.
You can see BTCDOM's over ATH 2021 and 2022, now it's nearly 52%.
I see some good signals
- RSI Overbought, not divergence
- MACD > 0, going up
- ADX > 40, strong strength.
- Price's a big green candle, it shows buyer pressure.
BTC on 4H TF
It's in Triangle Pattern.
My opinion is Bitcoin will breakout and go up to $38,000 - 39,000. That range has a lot of touching in the past.
Wait and see the market react
Btcdominance
Bitcoin Dominance is Close to its TopTLDR:
• BTCDOM is in the final stages of a Cup and Handle Formation.
• Max target for BTCDOM is 500 billion.
• I estimate that BTCDOM still has two or three months of upside. During this time Bitcoin will perform better than most alts. However, BTCDOM is close to toping. Once BTCDOM realizes its full potential I expect the alt valuation in BTC terms will increase.
Background:
• In a previous TV idea, I covered the TOTAL 3 Chart (linked). My conclusion was that the altcoin bear market is close to its end. I wanted to corroborate or refute this Assessment by reviewing the BTC Dominance chart. I am happy to tell you that my bias seems to be accurate.
• To be clear Bitcoin is mega-bullish and I expect it keep being bullish. The only aspect of bitcoin I expect to diminish is its dominance in the crypto market.
Chart Analysis:
BTCDOM is in the final stages of a perfect Cup & Handle formation. These include the following:
1. Uptrend: BTCDOM was in an uptrend since May 21st until June 22nd . During this period BTCDOM rose by 195%.
2. Correction/Cup: Since March of 2023 BTCDOM was in a correction. This correction took the shape of a rounding bottom. The lowest point of this correction touched the 0.382 fib retracement. This is a valid Cup.
3. Handle: During the Months of March and April BTCDOM consolidated in a Bull Flag which is valid for a handle.
4. Breakout: BTCDOM broke out to the upside on the weekly candle of April 24th. BTCDOM tested the 338 billion level as support on the weekly candle of May 29th.
5. Target: The target of this Cup and Handle formation is the 500 billion level. Currently Bitcoin is at 387 billion.
Conclusions:
This may sound bearish for altcoins. However, I would like to point out a few issues.
A. it is not guaranteed the BTCDOM will reach the 500 billion level.
B. Even if it will, it took us 10 weeks to get to the halfway point, so we have 2 or three months of an extreme BTCDOM at the most.
C. Markets are forward looking. If I can analyze the chart and see what is coming, you can bet your last Satoshi that the VCs and whales see it as well. My guess is that they are accumulating big-time.
D. Ask yourself: Would I long an asset that already made a 250% gain? or would you look for an undervalued asset that still has a lot of upside?
E. BTCDOM is close to oversold on the weekly RSI. Does it have some room for more upside? Sure. However, BTCDOM is close to the top.
Please read my TOTAL 3 analysis for more context.
NFA.
What do you think? Please share in the comments.
Best Wishes.
Decreasing USDT inflow (to see if USDT.D falls below 7.14)Hello?
Traders, welcome.
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(USDT chart)
It shows an uptrend due to trading after a gap down.
An uptrend with a candlestick movement without gapping indicates that USDT is increasing due to selling.
I think the rise of the candlestick appears because the USDT that has increased in this way remains held.
As long as it does not fall below the 82.467B-82.959B range, the coin market is expected to maintain its uptrend.
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(USDC chart)
USDC is showing a gap decline.
At the same time, it is falling below the HA-Low indicator on the 1D chart.
In order for USDC to turn into an uptrend, it must maintain a rise above at least the HA-Low indicator on the 1D chart and the MS-Signal indicator on the 1D chart.
The upward trend in the coin market due to the inflow of USDC is expected to begin only when it rises above 33.907B.
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(BTC.D chart)
The HA-High indicator on the 1D chart appeared to be created, but disappeared as the volatility period passed.
We believe that the rise in BTC dominance is a fundamental phenomenon that will eventually lead to a major uptrend in the coin market.
Therefore, it can be said that when BTC dominance continues to rise, it is a buying time.
However, you have to think about which coin (token) to buy, but if possible, it is better to buy coins (tokens) that are expanding the coin ecosystem.
The fact that the coin ecosystem is expanding is because it is a coin (token) that many people are paying attention to, so it is highly likely to continue to rise.
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(USDT chart)
We touched the important branch points 78.25 and 7.14.
So, if it falls below 6.85-7.27 and stays there, the coin market is expected to be out of sideways.
If it rises above 8.25, the coin market is expected to plummet.
It is expected that the coin market will need to fall below 6.21 to break out of the critical support and resistance zone.
This move is expected to boost the BTC price by over 35K.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
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BTC.D Review 1DayIntervalHello everyone, I invite you to review the situation of BTC Dominance over the rest of the cryptocurrency market. At the beginning, we will use the blue lines to mark the downtrend channel, which after several attempts was able to exit upwards.
Now, using the trend based fib extension tool, we can determine the places where dominance should encounter resistance. And here we see that we are facing a very strong resistance at 53.99%, but when it is overcome we can see a rapid increase to around 63.33%, which will give BTC a significant advantage over the rest of the market.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support zone from 48.19% to $ 47.04, but when we fall below this zone, we can see a decrease to around 45.92%, and then to the second support zone from 44.27% by 42 .17%.
Please pay attention to the CHOP index which indicates that most of the energy has been used, the MACD indicator confirms a strong uptrend, while on the RSI we crossed the upper limits of the range, which should give a moment of recovery or at least a temporary sideways trend with small pullbacks.
$BTC -Buy Opportunity- Bitcoin is sitting at a good buying opportunity on different perspectives
(long-term investing DCA, mid-term bounce- short term craze) ;
in the midst of TVC:DXY plunging today
Currently trading at Strong Zone of Support :
- S/R area
- Its Support of Golden Zone of 15K low to 31K High (CHoCH uptrend)
-Demand Zone
Looking for CRYPTOCAP:TOTAL2 as well to make some moves ( CRYPTOCAP:BTC.D should be surveyed)
TRADE SAFE
*** NOTE that this is not Financial Advice !
Please do your own research and consult your Financial Advisor
before partaking on any trading activity based solely on this Idea .
📈 Bitcoin Dominance Most Bullish Since Jan. 2018Bitcoin Dominance is about to go through the roof. The weekly RSI is at its highest level since September 2019.
The setup we are seeing now is something we haven't seen since early 2018.
We are also about to experience the "mirror image" of the phase that took place in Q1-Q2 2022. Mirror image as in reverse.
We should see massive growth across the Cryptocurrency market.
New people coming in, new money, new developments, new excitement... Growth and progress will flow from Bitcoin to the Altcoins and then back and forth.
The worst is already in the past, 2022... We are set to experience years of growth.
Namaste.
Possibility of trying new challengeshello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
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(USDT chart)
After June 3rd, it is showing a decline as it creates a gap for the second time.
If this decline continues, there is a possibility that the coin market will plunge.
(USDC chart)
The reason is that USDC's continued decline is believed to limit the current uptrend of the coin market.
Therefore, if even USDT shows a downward trend by creating a gap, it is expected that the rate of outflow of funds from the coin market will accelerate and the possibility of a sharp drop will increase.
However, USDT is currently in a state where it has renewed its previous high price (ATH), so it is not at risk yet.
If USDT falls below the previous high of 82.467B, i.e., below 81.839B-82.467B, a red flag is likely to be generated, so you should think about how to respond.
It is possible that these outflows were caused by the uptrend in the stock market.
If so, this phenomenon is likely temporary.
Since a lot of money is currently flowing into the investment market, I think that if an issue is created in any investment market, great volatility can occur.
The size and flow of funds in the investment market alone cannot determine the price fluctuations of individual stocks, coins, or tokens.
However, I think it will be a great reference for creating a trading strategy that can respond according to the importance of the current point or section by chart analysis of individual stocks, coins, and tokens.
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(BTC.D chart)
No matter what anyone says, BTC dominance is expected to remain on the rise.
The uptrend is expected to continue around 56.78-61.73.
Therefore, it is expected to confirm direction again around 56.78-61.73.
I think this phenomenon confirms that the current BTC price is located at the bottom.
Therefore, it is considered that the second wave of the rising wave is in progress for the BTC wave from a long-term perspective.
(USDT.D chart)
If USDT dominance is maintained in the 7.14-8.25 section, it is expected to continue its upward trend.
When that happens, it is expected to renew the declared price (ATH).
Therefore, for the next period of volatility, the move from around July 5 is expected to be significant.
If it falls below the 6.85-7.27 range, it is expected to escape the risk of a sharp decline in the coin market to some extent.
A full-fledged uptrend in the coin market is expected to begin with a decline around 4.97-5.53, so it is important to check for a drop below 6.21.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
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BTC/USDT potential sharp movementIn this chart I analized BTC.d with BTC/USDT and compare same potential pettern to be repeat again.
by looking at the time period between two vertical dashed lines as the BTC.d rised up; BTC price almost doubled. why a valid breaking from the trading range do not turn into a 10 to 15 thousands US $ increase again?
tonight we have important news that could work as an engin.
this is just an analize to make you alert, no position opened yet.
HAVE LUCK.
52% - 57% next targets for BTC. DBTC dominance broke 50% and there is minimal resistance until 52%.
If 52% breaks we could scam wick to 54% and down or continue to 57% and rekt the altcoinmarket.
most likely scenario seems to be 54% currently, but with big financial players entering BTC etf we might see higher.
MUH ALTS, They Bleeeding, here is why
As you can see in the chart BTC Dominance above the important Resistance Zone that we have been talking about.
This is why your precious Altcoins are bleeding. BTC and ETH are still doing relatively well in the grand scheme of things.
Remember, when BTC dominance is high you buy alts, what comes up must come down. Before every major alt season BTC dominance had a pump, only to dump while Alt season was unfolding.
BTC and ETH dominance both might be breaking out to test 52-57% and 22-25% respectively. Personally i dont think BTC dominance will rise much higher than 52% unlike ETH that might reach 25% considering the BTC/ETH pair chart is looking good and the hype around ETH and layer 2 solutions still unfolding.
Exactly why I have been posting about BTC more than ALTSBTC Dominance breakout as expected shows Bitcoin is preferred. Then again some alts are doing quite well in general these days :
With fundamentals going better (Feds, rates etc) Alts will be favored a bit later...
53.3% and 58% are the two main levels we can see BTC Dominance taking a halt.
One Love,
The FXPROFESSOR
BTC dominance. Will Ethereum leave the 2-nd line of the ranking?Bitcoin dominance is the reason why you will lose by buying altcoins now!
Many believe that ETH market cap can exceed BTC market cap. However, history shows us the opposite picture, that Ethereum will drop from the second place down, the question is just when...
A significant event that the market has not seen for a long time will soon take place, when Bitcoin shows good growth, and at this moment many altcoins will be falling in relation to USD. It will be very unpleasant to observe this with a large portfolio of altcoins.
Judging by everything, this will be the day when the court announces the verdict on the Ripple and XRP case. As the major exchanges introduce KYC before June 21, very soon XRP and many altcoin's will start being called unregistered securities, after which liquidity will flow even more actively from altcoins to Bitcoin.
I want to start with my list of TOP 10 trading recommendations, which has been around for a couple of years, and all this time there have been different situations in the market, but it remains unchanged.
1. The size of investments in cryptocurrencies is calculated from the possibility of a 100% loss. With high probability, 90% of cryptocurrencies will eventually disappear.
2. Avoid various pump groups. They are created to make money off you.
3. Everyone makes trading mistakes. It is important to learn not to make the same mistake twice.
4. Try not to trade against the trend. Trading is about identifying the trend and partially "riding" it. The market is cyclical and each cycle has phases. Learn to distinguish market phases.
5. Do not buy a coin if you know nothing about it or are unsure of your knowledge. This is very important in the current market phase.
6. Do not be afraid of market crashes - there lies the opportunity to earn well.
7. Do not "marry" altcoins, especially in the bear market phase.
8. You can make more than 50% wrong trades and still remain profitable. The main thing is to manage risks correctly.
9. Don't fuss. Imagine yourself as a hunter - save your ammunition (USD or BTC) for the big game.
10. If you have made a lot of money, lock in your profit or part of the profit, take a rest and do nothing for a week, read a book on market psychology.
All my major investment mistakes were made due to a strong involvement in the technologies that altcoins offer. I believed in the great potential of certain, quite fundamental projects, but in many market phases they did not show the expected result, and Bitcoin often left everyone behind. For the cryptocurrency market, the word "altseason" is now an integral part, from the point of view of global marketing. But altcoins come and go, while Bitcoin remains, I think it will always be that way. I'm not a fan of Bitcoin, I like other mathematical models for decentralized finance, but it's very important to understand the different phases in the market and consider all risks.
If you study history well, only gold has always been in the immutable and first place in the world financial system ranking. Starting from the 14th century and the Portuguese real, the sixth cycle of world currency dominance change is underway. Perhaps many of us will have the opportunity to witness how such a cycle change will occur by transitioning to the dominance of the Chinese yuan in global fiat transactions.
We are now in the ninth year when Ethereum is in second place in the cryptocurrency market cap ranking. If we project this onto cryptocurrencies, history shows us that Bitcoin will remain like gold, while someone else will take Ethereum's place. I would not have thought about this before, but the current news agenda regarding cryptocurrency market regulation has changed everything.
Are there any fundamental grounds for such a change? Previously, the SEC unofficially stated that ETH is not considered a security. But there were also words from the SEC that after Ethereum's transition to the POS protocol, this relationship might change, although these words are not remembered by anyone, perhaps deliberately for now. And here the very scheme of selling ETH coins through ICO will greatly worry the SEC, because if ETH is recognized as a "commodity", then many other projects will fit this template and use ETH as an example to justify themselves before the SEC. I think the SEC does not need such problems, and in the end, they will simply have to recognize ETH as a security. The introduction of the EIP-1559 update to Ethereum further increases this likelihood, as no one burns a "commodity" to give it additional value. We recall the history with the Howey Test and oranges. Let's destroy some of the collected oranges, add value, so other people would buy them at a higher price? In fact, the top cryptocurrency exchanges already in 2019 created a test of 36 questions, after answering which a cryptocurrency is rated on a 5-point system for the likelihood NOT to be called a security.
All exchanges know what will happen next, so they gradually introduce KYC. The Hotbit exchange even announced a suspension of operations, citing worsening operating conditions due to regulation, and asked users to withdraw their remaining assets by June 21.
Unlike his predecessor, the current SEC Chairman Gary Gensler has not expressed a clear position on the status of Ethereum. He previously noted that he considers most cryptocurrencies, with the exception of Bitcoin, as securities — but despite this, the Commission did not include ETH in the recently published list of assets falling under this classification.
Recently, JPMorgan expressed the opinion that the U.S. Congress may recognize Ethereum as a new class of assets, and it could take an intermediate position between a commodity and a security. According to the company's strategist Nikolaos Panigirtzoglou, in this case, the financial regulator will have far fewer requirements for the second largest cryptocurrency by capitalization. If such statements were made, it is likely that questions will ultimately be posed to ETH as well.
Why is such a scenario realistic? Over these 9 years of Ethereum's dominance among altcoins, other strong blockchains have emerged that may overtake it in popularity over time, but no one will replace Bitcoin. From my point of view, I see one such project, but that's the topic of another article. For now, let's call such an event a "Black Swan" and it won't be instantaneous, it will be a lengthy transitional process with a lot of speculation and contenders for the top spots in the market capitalization rankings.
Let's say the SEC starts a case against ETH, what are the consequences? The money will flow into Bitcoin in advance, then Ethereum will start having problems. It may even end with Vitalik Buterin officially renouncing his brainchild. This would add decentralization to ETH and it would no longer have an obvious leader who can influence the market with Twitter publications. Moreover, Buterin hinted at such a departure a couple of times, which increases the likelihood.
There's another interesting point. The first NFT from the CryptoPunks collection that was transferred to the Bitcoin blockchain from the Ethereum network through burning has been recorded! On June 18th, address 0xBc…0a71 spent 54.49 ETH to purchase punk number 8611, then sent it to the burn address Null: 0x00…dEaD and reincarnated it as bitcoin record number 12,456,749. For conspiracy theorists, this is definitely some sort of sign.
Everything that's happening in the news headlines today with the word "SEC" is something I expected last year. I've been studying cryptocurrency regulation since 2019, and until today, I've tried to understand what awaits us with its arrival. Apparently, the regulation has been delayed because the transition of ETH to POS has also been severely delayed. Also, the FedNow payment system from the Federal Reserve is coming out in July, hence the digital dollar (CBDC). This is the main answer as to why there is no further delay.
What will follow when digital assets are divided into securities, digital currencies, and utility tokens? This is the most interesting part! Once all laws and amendments regarding regulation are implemented and a status for each digital asset is determined, in my opinion, the only way to enter regulated markets will be on the condition that the owner is listed for each blockchain wallet address through KYC. No one is talking about this, maybe they're not even thinking about it, but it's likely to be just like this. Every security must have an KYC owner!
Such uncertainties will hinder new investments, and the market will begin to restructure or adapt to new conditions. The altcoin market will suffer the most. While everyone argues whether ETH, BNB, and XRP are securities or commodities, I want to remind you that Bitcoin has officially been recognized as a means of payment in El Salvador = it has officially acquired the status of "digital currency" or "money".
There is also good news. If you fully understand what regulators are currently thinking, you can timely place a bet on digital assets that will be recognized as utilities and have future prospects, they will not be of interest to regulators. But there are still many risks here as this will trigger another bear market phase from the fall.
Ethereum has one trump card. I've studied how the split of the ETH and ETC networks happened, and from the point of view of all processes, the original Ethereum, the coins that were sold in the ICO – it is precisely Ethereum Classic (ETC). That is, today's ETH is a fork from ETC, which everyone got for free, or mined later through mining or staking in the ETH 2.0 network. From this point of view, the new ETHW fork may show growth on all upcoming speculations. Today, the capitalization of ETHW is less than $200 million. Perhaps there will be a trial, and at some stage fact, about ETH is a fork from ETC, may emerge from the defense. Then all other projects will immediately start releasing forks or Airdrop their main networks to new networks, which Matic has already announced. In the medium term, this can be a positive for the altcoin market, as it will give a new impulse to the mechanism to print money out of thin air, I can't call it other words. Honestly, I think in the long term the story with forks and Airdrops is not crowned with great success, as I'm waiting for the "Black Swan", which will begin to change the paradigm established today. We watch and prepare to make money on speculations.
Since February, in my publications, I often refer to the fact that Bitcoin's dominance should show a strong trend, but there were few reasons for this. Now they are more obvious, and I want to show the main points on the chart, when and how to start looking at altcoins with the least risks, wait until the "regulation" storm passes and predominantly stay in Bitcoin.
I don't think there's any point in spreading out and looking for prospects in POW coins like Litecoin or Ethereum Classic, etc. My trading experience has shown that when dominance starts to pick up a trend, almost all altcoins deflate and it's optimal to stay in Bitcoin. Soon, money will start flowing more actively from altcoins to BTC and I think we will see a rise to 28,000-30,000 dollars this summer. Only after such a rise will dominance reach the first designated level of 55.7% for selective purchases and from there it will already be necessary to analyze who will "survive" in place.
BITCOIN dominance update best time to buy altcoins when btc domiance is above 55%.
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
best time to buy altcoins when btc domiance is above 55%
USDT/USD Hidden Bearish Divergence Deathcross SetupUSDT, the so-called stable coin, is now below the Bullish Control Zone on the RSI and is showing MACD Hidden Bearish Divergence on multiple Intraday Timeframes at this level after failing to take back the 55 and 89 EMAs. If this goes as any other chart normally would, I would expect it to go back down to the lows of the range, which in this case would take us down to around 94 cents, but I wouldn't be surprised if it went lower.
Detect new changes in USDTHello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
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(USDT chart)
Looking at the 1D chart, the High indicator on the 1D chart was created with an increase, increasing the possibility of forming a new trend.
Accordingly, the key is whether USDT is maintained above the HA-High indicator on the 1D chart.
If this is not the case and falls below the HA-High indicator on the 1D chart and shows resistance, USDT is expected to fall to around 81.839B-82.467B.
(1D chart)
The Stochastic and RSI indicators, which are included in the 'Strength' sub-indicator, are showing signs of a decline (Stoch > RSI).
Therefore, it can be seen that the possibility of USDT declining is increasing.
Looking at the previous data, it can be seen that USDT recorded a sharp drop once it exited the overbought zone and fell.
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(USDC chart)
(1D chart)
The section 26.129B-27.456B is an important branching section.
Therefore, the key is whether you can touch the area around this section and make an upward transition.
If not, I think there is a high possibility of giving a serious blow to the investment products in the coin market.
However, since it is believed that the funds that move the coin market are being made through USDT, the coin market is expected to defend the price if there is no outflow of funds through USDT.
Since the outflow of funds through USDC is highly likely to accelerate the decoupling of the coin market and the stock market, caution is needed when using stock market indicators.
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(BTC.D chart)
Looking at the 1M chart, a new uptrend line has been created.
Therefore, it is necessary to check whether it can be maintained below the newly created uptrend line.
If not, I expect it to continue moving towards the 56.78-61.73 area.
The rise in BTC dominance will cause a phenomenon in which funds are concentrated towards BTC as BTC is leading the coin market.
As a result, BTC price fluctuations will have a great impact on the coin market.
However, if BTC dominance rises, we cannot tell if the BTC price will rise or fall.
It just tells you whether the flow of money is going towards BTC or towards altcoins.
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(USDT.D chart)
The overall trend of the coin market can be seen by the movement of USDT dominance.
When USDT dominance rises, the coin market is likely to show a downward trend.
Conversely, when USDT dominance declines, the coin market is likely to show an upward trend.
Therefore, I do not think it is correct to try to confirm the trend of the coin market, that is, BTC or other coins (tokens), with USDT dominance.
USDT dominance is also related to the flow of funds.
Therefore, it is better to recognize it as a flow of funds in the coin market.
If USDT dominance breaks out of the 6.21-8.25 zone, it is expected to break out of the sideways that BTC is currently showing.
So, if USDT rises above 8.25, there is a high chance that BTC will plunge.
Therefore, it is necessary to check whether the USDT dominance can be maintained by falling to or below the 6.85-7.27 range.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
---------------------------------
Crypt Total Market Cap, Uptrend?This chart shows the total Crypto Market Cap, includes every coin on the market.
The Fib levels are drawn from the Covid Crash to the ultimate November Top. Upon the bearmarket retrace we bounced of teh 0.786 support zone to reach current resistance at 0.618.
There is a clear uptrend forming, now this is nothing to trade with imo, just important to note that this might be an area of support.
BTC is strong and we can clearly see that when comparing to the "Total Crypto Market Cap excluding BTC and ETH"
If there is more downside here i expect BTC Dominance to hit those 52%-55% levels
and ETH dominance to hit 22%-25%
while the Altcoin market will suffer greatly...
I still like the odds and will be swapping some ETH into altcoins once all the economical announcements are made this week and the data is clear.
Will also keep ammo for lower levels.
One thing to keep in mind, its all about perspective, just imagine seeing these levels during the bullmarket. These are the "Ah man i wish i bought then" levels
ETH Dominance one to look at. 25% coming?As mentioned in the related idea:
BTC Dominance broke out and this is the main reason your alts are bleeding.
Buy alts when dominance is high and sell them when dominance is low.
BTC and ETH dominance both might be breaking out to test 52-57% and 22-25% respectively. Personally i dont think BTC dominance will rise much higher than 52% unlike ETH that might reach 25% considering the BTC/ETH pair chart is looking good and the hype around ETH and layer 2 solutions still unfolding.
Bitcoin Dominance BTC.D. Bitcoin will outperform?Bitcoin Dominance trying to break a key level ~49%. If price stays on top of it, the rectangles target is around 58-60%.
Bitcoin will outperform most of the alts at that point, and alts bleed against BTC.
SEC has labeld some alts as securities so Bitcoin outperforming makes sense. For now.
I'm interested to see how this weekly candle closes. Does it close above 49%?
I also made an analysis from a micro-cap project which I think can 20-100x in few years.
Check it here
Analysing BTC, BTC.D and USDT.DIf you check my previous ideas (can't remember if here or on a social I can't mention here because "rules" but you can figure it out) there was a small support which has been cleaned multiple times by BTC, so now next target is the 24-24.8K area. BTC is forming a bullish DIV but I think it's still too weak
Both CRYPTOCAP:BTC.D (check this chart: )and CRYPTOCAP:USDT.D (check this chart: ) are going up showing that people are selling altcoins and moving money into Bitcoin and stablecoins. I don't show it here but even USDC.D is going up although it has a smaller share of the market.
Meaning: despite what the crypto twitter influencers told you altseason is FAR, new lows has to be expected and I feel that my bearishness is now justified.
However, by experience I can tell you that you'll recognize the bottom when it'll be too late so the only reasonable thing you can do is to follow this list:
1) identify the crypto you think have a good potential ROI;
2) start DCA;
3) don't throw insane amount of money in every buy, just be consistent, don't bet
4) JOLLY: buy more only if you've decent TA capability and recognize market reaches a point that it's likely to be the bottom
Good luck