Potential divergence enough to make BTC dominance bounce?
Or will it gradually continue to correct and slide towards the downside?
There is some unconfirmed(!) divergence on both the RSI and the MACD.
But whether these mechanisms are applicable on a dominance chart, is another matter.
Looking at a larger picture and accounting for the fact that there is a lot of development in the crypto space as a whole, it seems rather obvious to think that resources, efforts, new technologies and money flows will be spread out over numerous kinds of crypto’s and innovations.
This does not mean that BTC will significantly drop in price, on the contrary, it will most likely increase in value.
But it may not be the only one. Therefore, its dominance might slowly decrease with some downs and ups as the years go by.
As the ema-ribbon, the pivotbands-centerline, the RSI and MACD are all in the red on the daily chart, and the level also has entered my grey zone, it is starting to look like it is in a c-wave and that lower levels might be ahead.
Turnarounds may arise when it is least expected, so, we’ll see…
Thanks for your time!
There is some unconfirmed(!) divergence on both the RSI and the MACD.
But whether these mechanisms are applicable on a dominance chart, is another matter.
Looking at a larger picture and accounting for the fact that there is a lot of development in the crypto space as a whole, it seems rather obvious to think that resources, efforts, new technologies and money flows will be spread out over numerous kinds of crypto’s and innovations.
This does not mean that BTC will significantly drop in price, on the contrary, it will most likely increase in value.
But it may not be the only one. Therefore, its dominance might slowly decrease with some downs and ups as the years go by.
As the ema-ribbon, the pivotbands-centerline, the RSI and MACD are all in the red on the daily chart, and the level also has entered my grey zone, it is starting to look like it is in a c-wave and that lower levels might be ahead.
Turnarounds may arise when it is least expected, so, we’ll see…
Thanks for your time!
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