formation of D wave on monthly then down
Hi this is my monthly evaluation of bitcoin dominance.
Overall the monthly chart I find is more reliable for long-term analysis.
RSI is below 40 on monthly + negative macD (although mid-term has uptrended) and negative OBV all indicate that this is a bearish trend
Looking at the count the A wave was an impulse down. Then we had B --> C. Now the D wave is playing out after the bullish RSI divergence.
I am not really impressed with magnitude of D wave.
Despite all the volume BTC.D has not moved up and really has hovered between these 2 levels.
I think after D should see another impulse to complete wave E down - mini- Alt season starting in June I believe.
Let's see... waiting patiently
Overall the monthly chart I find is more reliable for long-term analysis.
RSI is below 40 on monthly + negative macD (although mid-term has uptrended) and negative OBV all indicate that this is a bearish trend
Looking at the count the A wave was an impulse down. Then we had B --> C. Now the D wave is playing out after the bullish RSI divergence.
I am not really impressed with magnitude of D wave.
Despite all the volume BTC.D has not moved up and really has hovered between these 2 levels.
I think after D should see another impulse to complete wave E down - mini- Alt season starting in June I believe.
Let's see... waiting patiently
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