Hello Everyone,
Bitcoin Dominance currently is trying to break the neckline of a a possible double bottom pattern that are forming in the monthly frame!
- the monthly candle is going to close after 3 days, if the breakout happen it will be a nightmare for Altcoins as Bitcoin will dominate the liquidity.
- the increase of bitcoin dominance doesn't mean bitcoin is going to be bullish, increasing in bitcoin dominance could be bullish or bearish regarding the bitcoin price.
- for BTC.D the current resistance is 48.4%.
- if a breakout happened, the next resistance is at 51% and overall double bottom pattern target is going to be 58%.
- we must not ignore the idea that a fake breakout could happen as crypto market is very highly manipulated market. so, you have to stick to a good risk and capital management plan.
Bitcoin Dominance currently is trying to break the neckline of a a possible double bottom pattern that are forming in the monthly frame!
- the monthly candle is going to close after 3 days, if the breakout happen it will be a nightmare for Altcoins as Bitcoin will dominate the liquidity.
- the increase of bitcoin dominance doesn't mean bitcoin is going to be bullish, increasing in bitcoin dominance could be bullish or bearish regarding the bitcoin price.
- for BTC.D the current resistance is 48.4%.
- if a breakout happened, the next resistance is at 51% and overall double bottom pattern target is going to be 58%.
- we must not ignore the idea that a fake breakout could happen as crypto market is very highly manipulated market. so, you have to stick to a good risk and capital management plan.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.