#Bitcoin Dominance Mid-Term Analysis ( @bitcoin )
Hello there ladies and gentlemen, BulloTaurus here with an important update for today .
For the past months we had an amazing bull run so far! Bitcoin broke all previous resistances like there were none of them!
We still didn't saw a massive volume spike on exchanges, mostly because this time we have Institutional Investors join the game that have their own private offers to buy bitcoin what doesn't always show on graphs.
The dominance of #Bitcoin is also in a uptrend currently trying to break the 78.60% Fibonacci Retracement level. It followed the support line and currently its looking that we can see the right shoulder to form the Head and Shoulders pattern.
I personally think we will see soon a retracement to the 50% level near 64.33 as we wee based on VPVR indicator pink line on the chart. The next move will kill most of alts and leave them red for long time.
We can have a small hope to have a mini alt-season while forming the right shoulder but not for long time unfortunately. This means that Bitcoin is building a massive move to 27k or even higher.
I would avoid holding alts for now, it is still too early to look into any profitable trades, although there are so many good buys at the moment.
Peace.
🍌 Please read the description 1-2 times including the Disclaimer before commenting 🍌
P.S. You're awesome! You can't be successful in all your trades, 30-40% is already higher than average traders you see!
For the past months we had an amazing bull run so far! Bitcoin broke all previous resistances like there were none of them!
We still didn't saw a massive volume spike on exchanges, mostly because this time we have Institutional Investors join the game that have their own private offers to buy bitcoin what doesn't always show on graphs.
The dominance of #Bitcoin is also in a uptrend currently trying to break the 78.60% Fibonacci Retracement level. It followed the support line and currently its looking that we can see the right shoulder to form the Head and Shoulders pattern.
I personally think we will see soon a retracement to the 50% level near 64.33 as we wee based on VPVR indicator pink line on the chart. The next move will kill most of alts and leave them red for long time.
We can have a small hope to have a mini alt-season while forming the right shoulder but not for long time unfortunately. This means that Bitcoin is building a massive move to 27k or even higher.
I would avoid holding alts for now, it is still too early to look into any profitable trades, although there are so many good buys at the moment.
Peace.
🍌 Please read the description 1-2 times including the Disclaimer before commenting 🍌
P.S. You're awesome! You can't be successful in all your trades, 30-40% is already higher than average traders you see!
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