Bitcoin Dominance and ATH dates
It is worth noting the action of BTC.D at the times leading up to Bitcoin ATH.
It is NOT as one would expect, where the Dominance would be Topping out as an ATH is reached.
It is the opposite. The PA of BTC.D Drops sharply
And as more "Alts" coins come into the space, the dominance of Bitcoin WILL drop, as can be seen on the chart also.
The Green box Bitcoin has been in for a long time now, is the result of 1000's of Alts coming in and taking their share of the market.
This is not a bad thing but people may need to realise whast really going on.
And as we stand now, BTC, fter weeks of being a front Runner, is nearing the ceiling of that Green Box and likely to meet strong resistance.
IF PA breaks out, then we are on a Roll and grabbingh bitcoin would be a very good thing, mostly once PA comes back to retest the old line as support. But this al depends on it breaking out.
Bitcoin itself is reaching overbought and is increasingly likely to pull back for a bit, which would be a Good thing....However, this is Bitcoin.....Could do anything.
It is NOT as one would expect, where the Dominance would be Topping out as an ATH is reached.
It is the opposite. The PA of BTC.D Drops sharply
And as more "Alts" coins come into the space, the dominance of Bitcoin WILL drop, as can be seen on the chart also.
The Green box Bitcoin has been in for a long time now, is the result of 1000's of Alts coming in and taking their share of the market.
This is not a bad thing but people may need to realise whast really going on.
And as we stand now, BTC, fter weeks of being a front Runner, is nearing the ceiling of that Green Box and likely to meet strong resistance.
IF PA breaks out, then we are on a Roll and grabbingh bitcoin would be a very good thing, mostly once PA comes back to retest the old line as support. But this al depends on it breaking out.
Bitcoin itself is reaching overbought and is increasingly likely to pull back for a bit, which would be a Good thing....However, this is Bitcoin.....Could do anything.
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