Bitcoin Dominance Bullish Cross

Hi guys,

Bitcoin Dominance is crossing an old resistance in the daily chart, I think the altcoins will be crushed to dust in this bullrun as we saw in the last run to 9k, bitcoin gaining 17% in one day and most alts under-performing.

I expect a new Bear market for the BTC trading pairs until the dominance go below 60% and therefore a potential alt-season starts.

Still, in USD pairs, altcoins will go up but will under-perform bitcoin.

Short altcoins, buy BTC.



* This is not Financial Advice *

Trade ist aktiv:

Acting as expected, altcoins being crushed, dominance going higher.

Levels of Resistance
R1: 70.81
R2: 72.91
R3: 94.83

In R3 would be hilarious, most of the altcoins going to zero(thats hypothetical of course but in a case like that, expect major dumps in favor of BTC).

Trade geschlossen: Ziel wurde erreicht:

Now its time for a retracement in BTC.D after this awesome bull run that got the alts so cheap in BTC pairs.

Now, as we know that everything that bottoms get up eventually, alts will run and out-perform bitcoin for a limited time.

Thanks for XZFAN that showed the exactly R1 at 68 in the weekly chart.

Enjoy the ride :)

Trade ist aktiv:

Trade active again, in the hourly chart BTC D. is bullish with many buy signals (sma, ema and macd), so I think altcoins will bleed..

Kommentar:

Weekly Resistance level: 69.00

If BTC D. break through this, goodbye alts..