💣BTC.D % will reject again from top of Rectangle pattern💣!!!

21 มี.ค. 2023

Today let's take a look at the Bitcoin Dominance Index(BTC.D) and see if Altcoins are the right place to invest again if the cryptocurrency market is bullish or Bitcoin.

Conversely, if the cryptocurrency market is bearish, can altcoins counter the fall or not❓

To answer the above ambiguities, we should first familiarize ourselves with the definition of the Bitcoin Dominance index(BTC.D%):

What is Bitcoin Dominance Index ( BTC.D%) ❗️❓

Bitcoin Dominance Index(BTC.D%) is a measure of how much of the total market cap of crypto is comprised of Bitcoin. It can help you understand the trend of BTC and Altcoins.

BTC.D has been caught between two zones of heavy resistance and support for about two years and has formed a rectangle pattern.

It is interesting to know that measuring the strength of BTC.D's upward or downward trend can be achieved by measuring the time each upward or downward movement reaches one of the two upper or lower lines of the rectangle pattern.

If you look at the chart, every time BTC.D moves from the bottom line to the first line of the rectangle pattern, it takes time, and this shows that the upward trend of BTC.D in the rectangle pattern is decreasing.

I expect BTC.D to retrace from the upper line to the lower line of the rectangle pattern and this move will probably last 12-18 weeks.

❗️Note❗️: We have to compound BTC.D analysis with some other items such as Total Crypto Total Market Cap $ Index and etc.

Bitcoin Analyze (Dominance Index ( BTC .D%)) Weekly Time frame⏰

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post.

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22 มี.ค. 2023

บันทึก

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