Is #Bitcoin Dominance falling down?#Bitcoin Dominance 1W chart;
I would like to start by telling you that I have some good news
As I mentioned in the previous chart, 58.25% and then the OB resistance level of 62% are important.
I think it will have much more positive effects if it reaches 62% because it will weaken the resistance at this level.
This is the level that will help us in the next bull cycle. That's why I care about it.
Now for the good news...
As can be seen on the weekly chart, the RSI seems to have begun to mismatch.
After a fake out to the resistance level at 58.25%, I think that it will ease down for the initial target of the pattern.
After the 50% level is seen, I expect it to start a rise again and to turn its direction down as it tests the OB level, which is the second resistance while completing this pattern.
Btcdominance
BTCDOM at the threshold of a strong impulseA very interesting situation is now observed on such a ticker as BINANCE:BTCDOMUSDT.P - bitcoin dominance index released by Binance. It differs from CRYPTOCAP:BTC.D in that it shows bitcoin dominance to the top 20 altcoins.
On the weekly chart of BINANCE:BTCDOMUSDT.P there is a very old AMEXP model from June 5, 2023, which essentially describes the entire current uptrend on this index. So within this model there was a target value of 100% level (2625.1), which has been a resistance for 112 days and during this time there were 4 attempts to test it.
In case we see a breakout, there may well be a very strong impulse, which will be accompanied by great volatility in the market.
What two scenarios could work at this point?
1️⃣ Index growth will be due to the fact that the top 20 altcoins will stand still/fall on the background of INDEX:BTCUSD growth.
2️⃣ Index growth will be due to the fact that the top-20 altcoins will fall faster than INDEX:BTCUSD will fall.
BTC Dominance Update (1W)This analysis is an update of the analysis you see in the "Related Ideas" section at the bottom of the page.
According to the analysis we published months ago, it is moving.
In this update, we updated the supply.
When bitcoin dominance hits the supply area, the alt party can start and we can see altcoins pumping.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Which direction should Bitcoin Dominance take?#Bitcoin Dominance 1D chart;
The white trendline starts from January 2015 and continues to the present day with a peak in January 2021.
It managed to rise above the trendline with strong momentum.
A decline will surely come, but it is too early for that.
So why not now?
In order for the decline to begin, the necessary infrastructures must first be formed. One of them is the RSI mismatch.
There is no decline at the moment.
Pay attention to the levels I have circled in red circles; the first one is a strong resistance level, the other is OB resistance.
My opinion is that we can see a rise at least until the OB region.
Chart Idea - BTC.DBTC.D is in rising wedge since Nov 2022. It's getting closer to the apex area. 82% rising wedges break towards downside. It seems that BTC will chop around in this after halving period, takes liquidity from both sides, and then will have a parabolic move by Aug-Sept 2024. Once BTC.D reaches the reversal zone range of 56-58%, it should break this rising wedge if not before. It's TP should be 45.7% which is a 0.618 fib level. ALTS should rally hard in the Q4 2024 if this TA works out.
The crypto market rules have changed and here's why...Do not rely on CRYPTOCAP:BTC dominance breaking to pump your alts. Keep up with the alts that pump along with $BTC.
Try to understand the current market trends. Do not stick to old market rules—they may be followed, but it should show on the charts, right?
BTC dominance looks like a bullish continuation to me, targeting 60%. Invalidation occurs if it breaks below 53.7%.
#BTCDOMUSDT #1D (Binance Futures) Ascending trendline breakdownBitcoin Dominance is pulling back towards 50MA resistance on daily, seems likely to get rejected next.
⚡️⚡️ #BTCDOM/USDT ⚡️⚡️
Exchanges: Binance Futures
Signal Type: Regular (Short)
Leverage: Isolated (6.0X)
Amount: 6.0%
Current Price:
2374.2
Entry Targets:
1) 2411.5
Take-Profit Targets:
1) 2010.3
Stop Targets:
1) 2612.6
Published By: @Zblaba
BINANCE:BTCDOMUSDT.P CRYPTOCAP:BTC.D #Bitcoin #Dominance #Index
Risk/Reward= 1:2.0
Expected Profit= +99.8%
Possible Loss= -50.0%
BTC.D # 004 (RIVERSAL TIME ZONE , ALTCOIN PARTY )Hello dear traders.
Good day .
First of all thanks for your comment and support.
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As you can see bitcoin dominance on weekly Gann Square reach to the reversal time zone and stops at Gann Square Fan line.
We expected to decline and support in next Gann Arc resistance.
Altcoin season will be higher growth than last seasons.
Bitcoin Dominance UpdateBTC.D was rejected from the channel's trend line and consolidated above the 55% zone (blue). It then broke down and found support at the 54% zone (green).
If BTC.D falls below this 54% support, it could drop to the 53% zone (yellow), which would be positive for altcoins, as a lower BTC dominance usually benefits them.
However, if BTC.D bounced back from the 54% zone back to the 55% zone, it would be very bad for altcoins, as previously BTC.D bounced many times from this zone. Increase in dominance causing further declines in the altcoin market.
BTC.D - KEY LEVELS FOR THE NEXT ALT SEASON (MAY 2024)BTC.D - KEY LEVELS FOR THE NEXT ALT SEASON (MAY 2024)
When can we expect the next Alt season? It's been a long time since the last one. For a potential Alt season to occur, we need to break through the critical 54% level. If that doesn't happen, then the 58% level has the potential to trigger this scenario.
2025 Altseason and how we enter Afternoon folks.
Hope you’re having a great day, i wanted to share my opinion about the next big Altseason, showing it with some waves . At first I think we’re gonna have a pullback to 50% so the altcoins can breathe a bit . Then we start the first phase of bitcoin gaining and the bull run till we get close enough to 64% , small correction starts there to point 3 and after we start a stronger bitcoin run to the cycle top which lead the dominance to upper 70% . Altseason starts there by dominance bleeding and sharp falling.
In other scenario we can go to 60% straight from here in gaining prices of course but mostly for bitcoin and falling from there to point 3 would be the fast correction.
Stay safe and see you at the top .
Golden Cross Re-test - Brief / Strong AltseasonAlternative idea for Bitcoin Dominance.
Small rising wedge breakdown on the weekly that began forming at the start of a Golden Cross of the weekly 20/100 and 50/200 MAs (and EMAs, not pictured)
Often after golden crosses, before the real bull run there is a strong re-test.
A re-test of the 100 and 200 weekly MA over the next month or so would target the exact same TP 2 as the rising wedge breakdown, around 49%.
49% also sits at the wick high of weekly support.
I see the possibility of a sharp drop down to ~49%, and if that level holds, a sharp rise up.
This could mean altseason is right around the corner, but could also mean it gets cut short around end of July or in the fall.
For a a different outlook considering a longer altseason and a sharper drop in dominance, see this other related idea:
For a short-term bearish then bullish outlook on Bitcoin Dominacne, see here:
August till January 2020 altcoins -80%My opinion is that Bitcoin will reach newer heights, when that happened in 2020 most altcoins did -80%, just look at FTM or DIA for example. I only hope that moment is not now. I feel uneasy about the constant bullish weekly divergences, at least monthly RSI hints maybe we could have a small alt season soon. But it will be mostly to give late longers and stuck people (who holding at loss for months) to sell at breakeven.
Rising Wedge Breakdown Near Resistance3-daily chart for BTC.D
Targets:
Possible drop to support support initially.
Then TP 1 around 47
TP 2 ~43-44%.
Prereqs:
Remain below the wedge and lose 54% and then the 200 day EMA/MA just under it.
Some confluence:
My hand-drawn rising wedge on the log chart above has a measured TP 2 that lines up almost perfectly with the linear chart's "Rising Wedge" auto-pattern indicator.
Daily line chart view:
#ALTSEASON is knocking the door! Are you prepared??#BTC Dominance: The Moment We've Been Waiting For.
The true alt season begins when ALT/BTC pairs start displaying strength, and I believe we're already seeing signs in several altcoins. I'll be sharing more details soon.
The liquidity exiting the market is poised to flow into solid altcoins.
You have to be patient, No FOMO!
Follow me if you don't yet, and hit the like button if you find my insights helpful.
When I start entering the altcoins, you'll be first to know! Be patient.
Stay strong folks.
#Crypto
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#PEACE