Bitcoin Dominance Falling Wedge

업데이트됨

So we can see a falling wedge on btc dominance, which was unphased by the dump - seems strong. this tells me it's possible we remain in this wedge and retest a double bottom at 68.25 or below. A pump can cause a bull break, but for now as long as dominace remains inside this wedge, alts will continue to grow nicely. But beware, Bitcoin can rekt alts in a hearbeat, so be very careful.
As for , what a fakeout! That pump and dump destroyed many hearts and wallets. AFter we broke that bull flag bullish, whales knew sentiment was extremeily bullish. What an epic trap for emotional traders. They're not going to give that up so easy. Now that we have apparently tested for support, it is possible to see btc pump. How much is the question. There is going to be massive sell pressure at around 9k, if we make it that far. It's the same thing we faced in the pump n dump, except after the dump, now there are many bearish traders to trap. Should be interesting. On the 4hr we have upticking histogram along with a potential bull macd cross. Let's see how this plays out.

For now I'm looking at alts. There are some pretty looking charts. But being very careful and patient. I am rarely long on alts along with bitcoin at the same time, however, this is the curent cast for me. Let's see what the market does. Tomorrow is Monday, so there should be an attempt to 9k shortly. Also The FED is helping us out with the massive repo market bail out, and now they have started buying 80B treasury bonds monthly. They must love us considering all they are doing to ensure bitcoin's epic success.
I apologize for being away since I got back from vacation. I have some new members and was ensuring they don't get lost and understand the strategy and system. I will be updating on TV on a regular basis again.

노트

So we're seeing a bitcoin pump, dominance is on the wedge resistance. If the wedge bull breaks, for sure there will be fear in the alts market. However, I don't expect alts to break the 4hr 20ma, unless btc keeps going, which of course is also possible.

I am neither expecting btc, nor btc Dominance to break resistance just yet. Hopefully, for the benefit of alts we can get some sideways action which would allow for alts to move a little.

Watch your alts. There should be some nice reentries for them at support. Now, if btc keeps going, then also possible alts will rekt past supports. Stay aware!