BTC Dominance (Prj.2019.P01.v3). Near reversal zone
As per the chart, thoughts
a) It does a reversal here (unlikely) > because the ALTs are still holding up well as people still think there are more to come
b) BTC has more to go, another drop coming until then some sideways movement which will give the rise to the ALTs again. (likely)
Close up
I believe we are close to the bottom for BTC on this Macro formation but still a bit more to go. Reasons
a) 21 EMA on the weekly
b) RSI on the weekly
c) Bottom of the Macro formation is near
Here are some snaps for confluence at the MACRO level.
and finally the RVT Ratio, another tool like the NVT but probably easier to read and maybe more precise when it comes to tops and bottoms.
charts.woobull.com/bitcoin-rvt-ratio/
a) It does a reversal here (unlikely) > because the ALTs are still holding up well as people still think there are more to come
b) BTC has more to go, another drop coming until then some sideways movement which will give the rise to the ALTs again. (likely)
Close up
I believe we are close to the bottom for BTC on this Macro formation but still a bit more to go. Reasons
a) 21 EMA on the weekly
b) RSI on the weekly
c) Bottom of the Macro formation is near
Here are some snaps for confluence at the MACRO level.
and finally the RVT Ratio, another tool like the NVT but probably easier to read and maybe more precise when it comes to tops and bottoms.
charts.woobull.com/bitcoin-rvt-ratio/
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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