BITCOIN DOMINANCE IS LIKELY TO BOUNCE!!!
Welcome to this new update on BTC dominance in 2 days timeframe.
On 17th Jan 2022, BTC dominance bounced back from the lower trendline and so far it is halfway through to reaching the upper trendline. If BTC.D manages to hold the 21 MA support then we can expect a bounce from here and 45% could be possible. A breakdown will drop the dominance back to 39%.
The weekly close is just a few hours ago so let us be careful.
On 17th Jan 2022, BTC dominance bounced back from the lower trendline and so far it is halfway through to reaching the upper trendline. If BTC.D manages to hold the 21 MA support then we can expect a bounce from here and 45% could be possible. A breakdown will drop the dominance back to 39%.
The weekly close is just a few hours ago so let us be careful.
BTC dominance bounced back as expected. The current level is 43.77% and at 44.33% we have a slight resistance. If the BTC dominance manages to break through this then we can expect the dominance to reach 45%+. Meaning, BTC will possibly rally higher.