BTC DOM UPDATE! ALTS MIGHT DUMP 40-50% FROM HERE IF??
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Welcome to this Bitcoin Dominance update. BTC Dominance is inversely correlated with Alts. When dominance pumps, Alts dump, and when dominance dump, Alts pump.
According to the weekly chart of BTC Dom, it is forming a descending triangle here and currently trading near the above trendline. If it breaks out from this triangle then it will be very bad for Altcoins. Meanwhile, rejection from here will give some relief rally in the Alts.
For more confirmation, we have to wait for another weekly close. Let's see how this goes. I'll keep updating you.
If you like this idea then do show your support with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this Bitcoin Dominance update. BTC Dominance is inversely correlated with Alts. When dominance pumps, Alts dump, and when dominance dump, Alts pump.
According to the weekly chart of BTC Dom, it is forming a descending triangle here and currently trading near the above trendline. If it breaks out from this triangle then it will be very bad for Altcoins. Meanwhile, rejection from here will give some relief rally in the Alts.
For more confirmation, we have to wait for another weekly close. Let's see how this goes. I'll keep updating you.
If you like this idea then do show your support with like and follow.
Also, share your views in the comment section.
Thank You!
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