formation of D wave on monthly then down

2022년 5월 9일

Hi this is my monthly evaluation of bitcoin dominance.

Overall the monthly chart I find is more reliable for long-term analysis.

RSI is below 40 on monthly + negative macD (although mid-term has uptrended) and negative OBV all indicate that this is a bearish trend

Looking at the count the A wave was an impulse down. Then we had B --> C. Now the D wave is playing out after the bullish RSI divergence.

I am not really impressed with magnitude of D wave.

Despite all the volume BTC.D has not moved up and really has hovered between these 2 levels.

I think after D should see another impulse to complete wave E down - mini- Alt season starting in June I believe.

Let's see... waiting patiently