BTC Dominance continues to increase along with BTC price from end of last month till now which boosting Altcoin going along with this. I expect this trend would continue for a while especially when BTC is about to make ATH this week. If BTC dominance is along with BTC rise then Altcoins are also increasing. Unless we see BTC price drops and BTC dominance increases then it's not a good time to hold Altcoins. In short, we are looking for BTC dominance drops. But it is not a case at this moment. Alts are ok to go a bit up more, but not really attractive till BTCDOM drops.
BTC made a bull run for ATH as updated last time. Altcoins after going sideways for a while also try to catch up the gain today. Congrats all for this historic moment of BTC. It signals positive things especially during all the FUD from China last month.
From ETHBTC chart you can see a clear inverse relation between ETHBTC and BTCDom. It signals a great amount of fund flows into ETH after BTCDom made a peak.
Trading Crypto Coach
ETH is close to its potential range, time your own exit
new expectation for eth
Trading Crypto Coach
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ETH is still outperforming to BTC during this time when the BTC Dom is on the way down.
My new view for BTC on Monthly chart: https://www.tradingview.com/chart/BTCUSD/DXJ5DUd1-BItcoin-Bull-market-after-50-correction/ Leave your likes/share or comment if you find it's useful.
TradingView
BItcoin - Bull market after 50% correction? for BITFINEX:BTCUSD by DatTong — TradingView
Hi all, nice to see all again from several months. Here is the recap from last time prediction:
- BTC made top if the next Monthly cadle is black.
- The bottom is around 30,000 for the correction.
You can find all the views here https://www.tradingview.…
- BTC made top if the next Monthly cadle is black.
- The bottom is around 30,000 for the correction.
You can find all the views here https://www.tradingview.…
Trading Crypto Coach
Photo
The inverse relationship is still in line with what performing during the last few days. And that explains why you hold ETH is still better back then. However, watch for the supporting levels of BTCDom and it may go sideways or bounce back which leads to BTC season is still intact and it would keep lead us through the previous ATH at 66,000. Today BTC is in dip again and it can change the direction anytime soon.
Trading Crypto Coach
Quick swing BTC: https://www.tradingview.com/chart/BTCUSD/OVxU3YYL-BTCUSD-Buy-dip-Target-67000/
You can scale out the position around the target (at the end of the arrow)