Bitcoin Dominance Update: Dominance broke above the 50D MA.
Currently hitting the horizontal Resistance.
Break above that green horizontal line + The purple Resistance line we can expect altcoins to go much deeper.
Rejection could provide alts some relief for the short term.
Crypto is too uncertain, manage risks accordingly. Do not take trades with high lev.
Fear and greed index is around 43 as of now. Which is basically bullish for altcoins. So there are many bullish as well as bearish signals here for altcoins. We can expect BTC Dominance to get rejected from here too, at least one more time giving altcoins some relief for the short term. Keep in mind break above that green zone is an alert to exit altcoins. I will exit all the altcoins except some like COTI and LSK XZC DOCK (averaged down entry at the dip) which I am still holding.
Honestly Dominance is bullish IN THE MID TERM so IMHO one must avoid any large exposure in altcoins.
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