Hi everyone 👋🏽
🕊 Wish y'all have a profitable lifestyle 🍀
📌 BTC.D Weekly chart
📌 Price Action with Wave Analysis.
📍 Today I would like to talk and discuss more about the Bitcoin's dominance which has such a very complicated form...
📍 First off, in the weekly time-frame we can see a potential triangle with reasonable confirmations, like the re-tests and reactions to the triangle tend-lines as well as a POTENTIAL double bottom which can lead to a short to mid-term uptrend movement and be a confirmation for the POTENTIAL "D" wave.
✍🏼 I can clearly read from chart the upcoming dates are very important for Bitcoin's dominance and others dominance.
✍🏼 We may have 2 scenarios;
-----------> End of the current wave (C) so it means that we may receive more confirmations for (D) wave and start of new cycle
-----------> Continuing this wave which can change the whole game and cancel the TRIANGLE movement
To be continued ...
🕊 Wish y'all have a profitable lifestyle 🍀
📌 BTC.D Weekly chart
📌 Price Action with Wave Analysis.
📍 Today I would like to talk and discuss more about the Bitcoin's dominance which has such a very complicated form...
📍 First off, in the weekly time-frame we can see a potential triangle with reasonable confirmations, like the re-tests and reactions to the triangle tend-lines as well as a POTENTIAL double bottom which can lead to a short to mid-term uptrend movement and be a confirmation for the POTENTIAL "D" wave.
✍🏼 I can clearly read from chart the upcoming dates are very important for Bitcoin's dominance and others dominance.
✍🏼 We may have 2 scenarios;
-----------> End of the current wave (C) so it means that we may receive more confirmations for (D) wave and start of new cycle
-----------> Continuing this wave which can change the whole game and cancel the TRIANGLE movement
To be continued ...
Note
✍🏼If this E-wave is accurate we may have already finished the 5th Wave (which is not in my opinion very common); or we may continue to go deeper and deeper in the dominance to the levels noticed .Note
Based on RSI, we are nothing like to close to have a reversal here; which make decisions very very complicatedNote
Even based on Phoenix Ascending, we may go deeper in dominance by watching the guard and sharp downfall of the Green and red lines Note
⚠️ I personally think that we are in a very complicated situation right now and we can not comfortably decide on the future of Bitcoin and others dominance 🧐 What do y'all think about this situation?
Shall we trade BTC Based or ALT coin based
Trade active
A double bottom may be created in the dominance chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.