BTC Dominance to 70%?
Updated
If not 70%, watch out for 67.42%
Time frame July 11-14
BTC.D seems to be marching towards the 70 to 71% threshold. That's higher than I expected and the next fib lines are 80 to 82% BTC.D (but this could be a 5th wave target?)
This current next wave in BTC.D is driven by, what else, trade war tensions. Most recently Washington approved the sale of 22B in weapons to Taiwan and that's really pissed off the Chinese Communist.
(For those unaware, Taiwan is essentially the pre communist Chinese government. in exile.
These are the people who were defeated and fled the mainland when the communist took China by force.
The Chinese Communist Party is very adamant other nations, especially the US, adhere to the "one china" policy, which essentially means nobody acknowledges the Taiwan nation state. They sort of have a pesky claim to the Chinese "throne")
Anyhow...
Using Fibonacci, we can come up with a target dominance of approximately 70%
The advancement is measured by taking the bottom and the top.
The bottom is measured at the lowest wick down. See April 5th.
From there place your "1" line to the peak of that first mini wave on April 11th and notice how this predicted future local caps.
Place your other "1" at the top of the completed wave 1 on May 14th for the larger wave pattern.
70% BTC.D corresponds with the 1.618 advancement of the full wave and the 5.618 advancement of the initial mini wave.
As mentioned above, the next Fib target is 80 to 82%. The people who say 90%, I would ask what their basis for that is.
Not a fun time to be holding alt coins either way.
Time frame July 11-14
BTC.D seems to be marching towards the 70 to 71% threshold. That's higher than I expected and the next fib lines are 80 to 82% BTC.D (but this could be a 5th wave target?)
This current next wave in BTC.D is driven by, what else, trade war tensions. Most recently Washington approved the sale of 22B in weapons to Taiwan and that's really pissed off the Chinese Communist.
(For those unaware, Taiwan is essentially the pre communist Chinese government. in exile.
These are the people who were defeated and fled the mainland when the communist took China by force.
The Chinese Communist Party is very adamant other nations, especially the US, adhere to the "one china" policy, which essentially means nobody acknowledges the Taiwan nation state. They sort of have a pesky claim to the Chinese "throne")
Anyhow...
Using Fibonacci, we can come up with a target dominance of approximately 70%
The advancement is measured by taking the bottom and the top.
The bottom is measured at the lowest wick down. See April 5th.
From there place your "1" line to the peak of that first mini wave on April 11th and notice how this predicted future local caps.
Place your other "1" at the top of the completed wave 1 on May 14th for the larger wave pattern.
70% BTC.D corresponds with the 1.618 advancement of the full wave and the 5.618 advancement of the initial mini wave.
As mentioned above, the next Fib target is 80 to 82%. The people who say 90%, I would ask what their basis for that is.
Not a fun time to be holding alt coins either way.
Note
At 67.5Either breaks down here or it's on to 70-71
Note
I think btc dominance is done for now and heading lower.Interestingly, several of the alt coins I chart are throwing the date of July 12 for potential reversal zone.
But then again, TA on crypto is very difficult with Tether to the rescue everytime the price drops
Note
69.30 with BTC.D still looking bullish. 70% target could be really any time now.
Note
Playing out as predicted, so far! Alt coins are seeing some action, perhaps it's alt season for reals? ha
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