Hello there my friends!! I hope everyone is having an awesome time.😀
For this segment, lets discusss the current structure of Bitcoin Dominance Market Cap.
We are right now in a critical and key point right now in this 62% support.
We can see that it didn't go through it and break this area.
It successfully bounced from it, this can be a bad indication for the running altcoins that are making new highs.
If the trend reverses here, there is a good chance that the most of the money made by the people in the Alts will flow through the big caps again especially in Bitcoin.
What I am currently anticipating is the move in the Blue Candles.
I think this support will hold and BTC will continue its upward swing.
But ofcourse, this is just my own prediction and not set in stone.
And so far, the dominance is still printing lower highs and this is a solid downtrend.
If we break this current support of 62% and continue the trend downwards, we can really see some big moves to the alts.
So its really good to keep an eye on this chart while we are trading or investing in the crypto market.
It is always beneficial to look at all the angles and do our proper research whenever we want to participate in the market.
This can really give us some more broad perspective than just focusing on the one particular crypto or token we are looking at.
As always, we should have a good plan when participating in the market.
And always have a proper risk management to preserve our capital and not blow up instantly by doing reckless things.
What do you guys think? Will we have another and bigger Alt Season? Comment your thoughts below.
If you want some chart requests or want me to analyze some crypto or asset, just comment below and I will post it next.
Thanks!😃
Till next time guys and gals,
Cheers!! 😃
Disclaimer: This is not a financial advice and for educational purpose only.