Hello traders,
The Bitcoin Dominance has been on a large downtrend for years and is looking like it will continue. It is currently in a descending pattern (Lower highs and equal lows.) The current dominance comfortably sits at 39.83%, while the target out of this downtrend is 29-30%. This may look bearish for Bitcoin but this may be a sign that Altcoins may surge! 9% loss in Bitcoin Dominance is $180B USD. More currently we have received a weekly close below the important support level, unfortunately, this reveals BTC may go lower possibly dragging down other coins. One last thing, the MACD of the Weekly BTC.D is foreshadowing a divergence to the bearish side.
Safe trading,
-Pulkanator
The Bitcoin Dominance has been on a large downtrend for years and is looking like it will continue. It is currently in a descending pattern (Lower highs and equal lows.) The current dominance comfortably sits at 39.83%, while the target out of this downtrend is 29-30%. This may look bearish for Bitcoin but this may be a sign that Altcoins may surge! 9% loss in Bitcoin Dominance is $180B USD. More currently we have received a weekly close below the important support level, unfortunately, this reveals BTC may go lower possibly dragging down other coins. One last thing, the MACD of the Weekly BTC.D is foreshadowing a divergence to the bearish side.
Safe trading,
-Pulkanator