Dominance plummeting, now at 786/886 area on fibs.
Well worth a look here if you trust in fibs. Its either defi/alts completely go for it, or BTC takes the reigns (again) and shows its girth, just like it always does.
There is a school of thought that says, apps/defi etc have overtaken the simplicity of BTC and now its proper real use case. Or is it?
Over sold , rsi and macd look great, a deffo chin scratch point last few daysd and i think 886, even double bottom possible, but can really see it go lower than those, but ive been wrong before on this chart. COuld wait for divergance here on oscillators, but not sure thats the medium term sensible thing to do.
But technically, looks like may well be BTC just bull flagging on USD and greater things ahead at expense of defi craze etc. If the bull run continues, BTC usually stamps its feet pretty hard for long periods of time and can crucify alts as soon as it makes big moves.
So im calling bullish on this one from a TA perspective, whether it translates into £ gains, who knows. But always, every time, BTC big moves shatter others and i think the dominance chart is a good pointer for significant action upwards soon.
MAs again , the actual value (like any other chart are way below 20/50 and imho always a good sign to look at the wider recipe here (rsi, macd , nosedive action) for some turnaround action and retest those MAs as the bottom out. resistance becomes support etc.
Any other USD asset , people would be creaming themselves as this as a decent buy area and a rebound possibility. Reminds me of my YFI /USDchart at 12k where i was too picky about bottom etc.
Looks good to me. = I expect big BTC action soon which up or down USD = big swings on this chart upwards. As we are in a bullrun, its favouring six figure BTC imho. Buit this is the dominance chart so get prepped for either scenario.
There is a school of thought that says, apps/defi etc have overtaken the simplicity of BTC and now its proper real use case. Or is it?
Over sold , rsi and macd look great, a deffo chin scratch point last few daysd and i think 886, even double bottom possible, but can really see it go lower than those, but ive been wrong before on this chart. COuld wait for divergance here on oscillators, but not sure thats the medium term sensible thing to do.
But technically, looks like may well be BTC just bull flagging on USD and greater things ahead at expense of defi craze etc. If the bull run continues, BTC usually stamps its feet pretty hard for long periods of time and can crucify alts as soon as it makes big moves.
So im calling bullish on this one from a TA perspective, whether it translates into £ gains, who knows. But always, every time, BTC big moves shatter others and i think the dominance chart is a good pointer for significant action upwards soon.
MAs again , the actual value (like any other chart are way below 20/50 and imho always a good sign to look at the wider recipe here (rsi, macd , nosedive action) for some turnaround action and retest those MAs as the bottom out. resistance becomes support etc.
Any other USD asset , people would be creaming themselves as this as a decent buy area and a rebound possibility. Reminds me of my YFI /USDchart at 12k where i was too picky about bottom etc.
Looks good to me. = I expect big BTC action soon which up or down USD = big swings on this chart upwards. As we are in a bullrun, its favouring six figure BTC imho. Buit this is the dominance chart so get prepped for either scenario.