A few days ago, we gave an analysis on Bitcoin Dominance Analysis, if you have read that post, well, here'sone more update for you!
We checked the 4H chart, and here's a small update!
It seems like the action is in a steady downtrend, and it formed a downward channel.
Our suggestion: Keep eyes on this if you want to enter/exit any altcoin positions!
A break above this will mean altcoin prices will go down with respect to BTC,
A break below this will mean alltcoin prices will go up with respect to BTC.
We have also marked the weekly resistance (which means it will be a very good opportunity to buy altcoins (if dominance retests, or reaches that level, and starts coming back)
Weekly Dominance chart still looks bearish, which means Alts are looking good on Weekly timeframes.
Points to note: (Taken from the original post)
So keep en eye on this!
Let us know what you think!
(Upvote if you like our content! :D)
Also feel free to comment any coin you want our analysis on!
Stay tuned for our next update!
Posted Using LeoFinance
