BTC.D has been moving higher and higher with only a few weeks stop in between each new peak... But it seems that it is running out of steam.
Bearish signals coming from the chart
We have low and decreasing volume.
Bearish divergence showing up on the MACD and RSI.
Strong resistance ahead.
RSI Overbought.
Our main scenario is marked with arrows on the chart. The situation can easily change if the next resistance at 74.84 is broken with good strength and volume.
If BTC.D fails to reach 74.84 and close above it, it is very likely to move lower as shown on the chart.
On a drop, the first/main level to be tested would be 69.11 or EMA10. A new update will be shared based on how the charts behave.
Thanks a lot for reading.
Namaste.
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Bitcoin & Ethereum Charts:
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RECENT RESULTS[/B] | MORE COMING SOON ________________
Fuck I'm thinking the same thing than Alan. Which mean i'm wrong and i need to do the oposite :(
AlanSantana
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@Geindre, Very funny...
FRXMACHNE
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Does this mean ALTS will fly?
AlanSantana
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@sdahiya117, If BTC Dominance falls, yes.
brycesaint
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@alanmasters, last bull matket passsing of previous ATH and staying above marked the beginning of btc dominance correcting with new retail money flooding in looking for a cheaper alternative to bitcoin that they can afford to buy a lot of, but I’m still nibbling into to long term alt positions now
Bitconiano
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Tinkhong_WAVE
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Could you please tell me the name of your indicator which at the right side ?