BTC.D - The Importance Of Buying Bitcoin At Major Pivots
I have overlaid Bitcoin over Bitcoin Dominance.
Since and including the market bottom we have had 2 major pivots until now.
The 3rd appears to be breaking out now.
And so the moment when Bitcoin breaks out following a long sleepy correction tends to be when Bitcoin Dominance also breaks out as highlighted by the arrows on the chart.
The effect of this is that many but not all altcoins are a sleepy as Bitcoin pumps.
And so by buying Bitcoin it allows the potential opportunity to swing into altcoins with profits.
Of course you have to realise when a major pivot is printing to be able to do this.
...
On BTC.D we are now approaching Distribution Resistance and the retracement Golden Window that we have been watching for a very long time.
I think there is a good chance that this will be the last wave up before a major reversal in BTC.D.
And perhaps that may come closer to the 0.786 retracement ratio.
As it gets above Distribution Resistance and into the 0.618 - 0.786 Golden Window there I will be considering swinging into some altcoins...
Not advice
Since and including the market bottom we have had 2 major pivots until now.
The 3rd appears to be breaking out now.
And so the moment when Bitcoin breaks out following a long sleepy correction tends to be when Bitcoin Dominance also breaks out as highlighted by the arrows on the chart.
The effect of this is that many but not all altcoins are a sleepy as Bitcoin pumps.
And so by buying Bitcoin it allows the potential opportunity to swing into altcoins with profits.
Of course you have to realise when a major pivot is printing to be able to do this.
...
On BTC.D we are now approaching Distribution Resistance and the retracement Golden Window that we have been watching for a very long time.
I think there is a good chance that this will be the last wave up before a major reversal in BTC.D.
And perhaps that may come closer to the 0.786 retracement ratio.
As it gets above Distribution Resistance and into the 0.618 - 0.786 Golden Window there I will be considering swinging into some altcoins...
Not advice
We're into the post FED interest rate cut blow off phase for risk on markets🥳.
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I have many great deep value opportunities ❕
Many Trade Ideas Every Day 📈
Regular videos ✨.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
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