Btc dominance is making a HH formation. Also a ascending triangle. The next 24 H may indicate the real move. Breakabove will be much concerned for alts. Here is the analysis about BTC dominance and Alts. condition in next few days. at you see in chart bitcoin dominance formed a cup pattern and killed almost all alt coins in past few days. as we approach to a major resistance at 64~ level (fibo level) i expecting Alt party at BTC dominance rejection. sooner or later this will happen and with current BTC . BTC Dominance has finally reached an important monthly resistance at 71%. I believe we'll begin to see a significant pullback here now, which will result in the strengthening of the altcoins in Q1 Inversely i've linked a chart to Altcoin dominance .
Btc dominance tradingviewBTC Dominance - The Top is in for CRYPTOCAP:BTC.D by DILZZ — TradingView
Not Good For Alts. Dominance tried so hard to break the trendline resistance. BTC dominance can touch 64 or 66 once again. As per the head and shoulder pattern. Its it Goes As Planned Then soon huge alts season will come as per nov. If you are already invested stay put be vary of alts they might go down if BTC breaks out. BTC Dominance is holding the levels.
Stick with the breakdown, If it stays flat then we can't see big run in alts. Btc dominance at resistance, we formed a bearih candle, but it needs to close this weekend. Expecting alts to gain against bitcoin. Which of course is bad news for Alts.
Previously I believed that the wedge resistance will reject BTC. At the moment the Alts look fine because they strangely have become positively correlated to BTC.
This happens Since the start of November there's a noticeable amount of bullish sentiment surrounding Litecoin. Instead of moving back to the lower trend line of the wedge, it made an unexpected bullish move. This bullish move broke the 4-year wedge, without any signs of stopping soon. One more punch for alts before a reversal. Bitcoin is currently on a descending broadening wedge signifying that there's a huge ALT coin season coming soon over the horizon, possibly early December.
Although currently Bitcoin's dominance is rising to the top of the descending wedge because of investors selling the altcoin positions into bitcoin we expect that it will be rejected at the top of the At this point, it could be the bottom for Alts, but it is hard to hold on to almost anything but BTC knowing that your investment performance is being slowly eaten away.
This is partly to do with Hello, traders! Bitcoin's dominance has tested the Bitcoin absorbed all the liquidity of the market during its rally. Christmas holidays are coming and traders in the stock market prefer to fix their positions. In case if big players are fixing positions on BTC, the nearest support level is at the price values of Bitcoin dominance touched On the weekly chart, Bitcoin Dominance completed the Elliott wave pattern and now the ABC correction wave is going on.
The B wave is completed with a Some Elliott Wave for you.