quantmaven

Bitcoin Dominance: Breakout it seems

CRYPTOCAP:BTC.D   Market Cap BTC Dominance, %
Bitcoin Dominance keeps going up, to a point where we have to recognize that this gigantic triangle might have bursted to the upside, which does not bode well for Altcoins. Usually when the market is bullish, Altcoins outperform Bitcoin when the market goes up and underperform when the market goes down. Here we have a strange situation: no matter if the market goes up or down, Bitcoin keeps doing better. Now it's been more than 8 days of green candles, when we start printing the red candles, it means the Dominance will keep rising because Bitcoin is more defensive.
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