The weekly uptrend was lost, it is showing some signs of exhaustion, and may correct soon in a way that could be beneficial to alts.
Scenario # 1 - Bitcoin Dom gets stopped for the 3rd time at 54.1%, and moves down to make a final / higher low above 48.7 (still a lower low from its recent weekly low). Then it turns up hard to break through 54.1 on its 4th attempt after showing strength above 48.7-50%.
- this situation means a more immediate run for alts, but it won't last nearly as long and btc will quickly dominate again.
Scenario # 2 - we see a temporary break above 54.1 that goes near the center of weekly resistance and the bottom of the white diagonal trendline drawn on the chart. It gets rejected here and then follows the same path as Scenario 1 from there.
- alts would have to wait a bit longer to get a slightly longer and stronger run vs. btc before it dominates again.
Note that it is also possible that dominance turning down just means a correction for the market, instead.
Scenario # 1 - Bitcoin Dom gets stopped for the 3rd time at 54.1%, and moves down to make a final / higher low above 48.7 (still a lower low from its recent weekly low). Then it turns up hard to break through 54.1 on its 4th attempt after showing strength above 48.7-50%.
- this situation means a more immediate run for alts, but it won't last nearly as long and btc will quickly dominate again.
Scenario # 2 - we see a temporary break above 54.1 that goes near the center of weekly resistance and the bottom of the white diagonal trendline drawn on the chart. It gets rejected here and then follows the same path as Scenario 1 from there.
- alts would have to wait a bit longer to get a slightly longer and stronger run vs. btc before it dominates again.
Note that it is also possible that dominance turning down just means a correction for the market, instead.
Giao dịch đang hoạt động
Here's a zoomed in view:Giao dịch đang hoạt động
So far getting stopped at 54, the higher low above 48.6 could be around this other trendline at 51%, here's another view how the uptrend is weakening:Ghi chú
Also, below are some examples of alts bottoming vs. a temp btc.d top here - eth/btc and hbar/btc overlaid on the chart:Giao dịch đang hoạt động
Alts have begun to move up as dominance has reacted at weekly resistance again, still expecting it will turn up and break through eventually though:
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.