BITCOIN DOMINANCE
Something i always keep a close eye on is the Bitcoin Dominance chart, its been a really good indication of the movements of Bitcoin vs Altcoins.
I never really do much in the way of technical analysis with the Dom chart but i will keep an eye on key levels where we start to see trends turn around or pause.
>> Currently i have been watching the BTC dom rise and playing the short game on most of the alts paired against BTC while still being some small short term gains in the alt/usdt markets.
>> When we hit around the 64% mark i feel BTC will either start to retrace or get stuck in a tight range as volume dries up and money will start to flow into the high cap and some of the more hyped up alt coins lately that have seen a tone of bleeding and look ripe for the picking.
>> Money always seems to flow from the top down into the high caps so ETH,XRP,ADA etc will see descent recoveries followed by mid cap coins like LINK, XLM, NEO, VET etc followed by the random hype coins.
>> My play for now, entered some short positions on BTC in case we see a larger retracment and start looking for entries on some of the alts paired against BTC for a long, this doesn't mean im entering now as there could still be a bit more of a shake out while bitcoin is still flopping around here at those 2019 highs.
What do you think will happen with the BTC Dominance? are we gonna keep running and altcoins bleed more than they ever have before?
I can see it if bitcoin just has a massive fomo run and heads towards 2018 highs
I never really do much in the way of technical analysis with the Dom chart but i will keep an eye on key levels where we start to see trends turn around or pause.
>> Currently i have been watching the BTC dom rise and playing the short game on most of the alts paired against BTC while still being some small short term gains in the alt/usdt markets.
>> When we hit around the 64% mark i feel BTC will either start to retrace or get stuck in a tight range as volume dries up and money will start to flow into the high cap and some of the more hyped up alt coins lately that have seen a tone of bleeding and look ripe for the picking.
>> Money always seems to flow from the top down into the high caps so ETH,XRP,ADA etc will see descent recoveries followed by mid cap coins like LINK, XLM, NEO, VET etc followed by the random hype coins.
>> My play for now, entered some short positions on BTC in case we see a larger retracment and start looking for entries on some of the alts paired against BTC for a long, this doesn't mean im entering now as there could still be a bit more of a shake out while bitcoin is still flopping around here at those 2019 highs.
What do you think will happen with the BTC Dominance? are we gonna keep running and altcoins bleed more than they ever have before?
I can see it if bitcoin just has a massive fomo run and heads towards 2018 highs
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