๐ฅ Bitcoin Dominance Reversing: End Of Alt Season?
A couple of weeks ago I made an analysis on BTC.D (Bitcoin dominance) and the horizontal channel it was trading in. I made the prediction that BTC.D would likely see a reversal from the bottom support area, which has now occurred.
As seen on the chart, the BTC.D has seen the biggest daily gain yesterday in over three months. In my view, this could very well be the starting sign of a prolonged trend for Bitcoin Dominance.
Classically, BTC.D rising implies a risk-off environment for alts., it generally rises during bearish trends.
In the chart below you can see that we're currently experiencing an "alt-season" - which means that most alts are outperforming BTC. This generally lasts for a couple of months before reversing again.
Will Bitcoin take back the reigns?
As seen on the chart, the BTC.D has seen the biggest daily gain yesterday in over three months. In my view, this could very well be the starting sign of a prolonged trend for Bitcoin Dominance.
Classically, BTC.D rising implies a risk-off environment for alts., it generally rises during bearish trends.
In the chart below you can see that we're currently experiencing an "alt-season" - which means that most alts are outperforming BTC. This generally lasts for a couple of months before reversing again.
Will Bitcoin take back the reigns?
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โ Monster Signals: t.me/monster_cryptosignals
๐ฅPremium Signals: fierytrading.com
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