Bitcoin Dominance, A potential look to whats ahead for BTC
Bitcoin Dominance has been struggling to stay above 70, as the Altcoins have started taking over.
BTC.D is in the middle of what could become a Head and Shoulders Pattern, with the Support and Resistance forming a symmetrical triangle pattern.
What this means?
Jan - February:
We should see BTC.D reverse from here, to form the last shoulder, meaning BTC should move up a little. Then we could see BTC.D drop back down to the neck and further, meaning one last down for Bitcoin. We should find a pivot here, as the support is very strong, and should be enough to catapult BTC higher.
March - May:
We should see a major rally sometime as early as Early March - Late April, soaring into May.
Good luck!
Bitcoin dominance just takes the entire market cap of Cryptocurrency, and takes the % of that amount invested into Bitcoin, and makes it into a number. This will usually show us trends, or confirm trends.
BTC.D is in the middle of what could become a Head and Shoulders Pattern, with the Support and Resistance forming a symmetrical triangle pattern.
What this means?
Jan - February:
We should see BTC.D reverse from here, to form the last shoulder, meaning BTC should move up a little. Then we could see BTC.D drop back down to the neck and further, meaning one last down for Bitcoin. We should find a pivot here, as the support is very strong, and should be enough to catapult BTC higher.
March - May:
We should see a major rally sometime as early as Early March - Late April, soaring into May.
Good luck!
Bitcoin dominance just takes the entire market cap of Cryptocurrency, and takes the % of that amount invested into Bitcoin, and makes it into a number. This will usually show us trends, or confirm trends.
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