Bitcoin Dominance Chart Analysis

People ask a lot about this chart, Bitcoin Dominance (BTC.D).

Currently, we have some bearish action developing even though it is early on.

We are used to reading early signals and this is pointing like a correction is about to show up.

Check my latest BTCUSD for more details.

Now, how far down can this one go?

We are looking at a correction but not a bear wave/market, with this in mind we aim at a higher low.

The 0.5/0.618 Fib. retracement level looks like a good support.
This is also close to EMA50 which also tends to works as strong support.

The RSI is already trending down after a lower high.
Same with the MACD.

This is all expected and we are not surprised.
We need one final strong correction before Nov./Dec. If we really one to see $100K or beyond.

This is what I see coming from this chart mixed with all the data that I have from reading Bitcoin for the past 8-12 months.

If you agree or have a different opinion, share it in the comments section with us.

Thank you for reading.
Thanks a lot for your continued support.

Namaste.