Bitcoin Dominance Ready To Take The Plunge?

This is an update to my previous chart... Observing the Altcoin market over the last few months, we see the alts have made some incredible moves. We've seen Bitcoin Dominance teetering on the edge over the last 6 weeks. The question is, are we about to see a Dominance crash? Last year we saw the Dominance chart broke out of the descending resistance line and got rejected from the historical resistance level of 72% - 74%. It's been flirting with the 60% support level and now, we've finally poked through below. We do not know if this will cause a crash or reversal at this point. "IF" we do see a weekly close below 60% in the near future, which will signal potentially the biggest Altcoin cycle we've seen in many years. We'll wait for the market to show its hand over the coming weeks/months, and will react accordingly.

There are 2 ways of looking at this chart, I'll post another chart below that shows a cleaner look at things.

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Kommentar:

So far it looks good.

Trade geschlossen: Ziel wurde erreicht:

Target Hit