Bitcoin dominance: due for a correction

Dec 27, 2020

If you trace a macro fibonacci from the top at 95+ % to the bottom at 35% in January 2018. You can see that the golden pocket is located between 75% and 78%. This is generally a lgood ocation for shorting (in this case, it means turning your BTC into altcoins). In addition to this, if you trace a trendline of the BTC dominance uptrend from the bottom in January 2018, you can see that it is in confluence with the golden pocket. This makes me think the Bitcoin dominance will top at around 76%.

Dec 28, 2020

Comment

To complement on the chart.

Jan 4, 2021

Trade closed: target reached

BTC dominance dropped by 6 points at target. We can expect a bounce back up at around 68%. Trade closed.