๐ฅ Bitcoin Dominance Rising: Bitcoin Season Ahead!
After bottoming out early September, the Bitcoin Dominance has made a new local high. Since BTC.D has been trading inside this horizontal channel for over 1.5 years, the assumption is that BTC.D will keep on rising, targeting the top resistance area.
It could mean either of two things. First, the dominance rises during bearish times. Investors pull out from alts and move their funds into BTC or stables. Seconds, we can see a BTC-only bull move like we saw in 2019. Since the market is still in distress, the latter is more probable over the next few months.
It could mean either of two things. First, the dominance rises during bearish times. Investors pull out from alts and move their funds into BTC or stables. Seconds, we can see a BTC-only bull move like we saw in 2019. Since the market is still in distress, the latter is more probable over the next few months.
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