BTC.D 1D (CryptoCap) Descending channel breakout
This looks like a clear bullish breakout and retest for Bitcoin Dominance to me.
It makes me thinking that ALT market could suffer for next 2 months or so!
We may see a last pump from here and there but I believe this is the return of king BTC.
If this was tradable, I'd be longing on the zone, but since it's only an index, I will reduce my alt positions.
It makes me thinking that ALT market could suffer for next 2 months or so!
We may see a last pump from here and there but I believe this is the return of king BTC.
If this was tradable, I'd be longing on the zone, but since it's only an index, I will reduce my alt positions.
Note
My view would allow an alt season in November!Note
Playing out almost exactly as planned...Note
#BitcoinDominance is still going up!Note
Rejected on highest parabolic curveWe could see a pullback to the lowest parabola letting ALTs breathe a little!
Note
Nailed it so far on #BitcoinDominanceI hope you shorted some ALTs or at least reduced exposure as I suggested several times!
I am now expecting that pullback before it resumes bullish.
Note
BTC.D 3D: That would be the macro view:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.