BTC DOMINANCE MAY DROP TO 50%
Bitcoin price rises while its dominance falls. The perfect set up for 2021 BTC led bull market. Fundamentally large gains should be made from the ALTS to fuel the successive BTC rally. In the mid term Alt season should continue for few more months. The BTC Dominance chart aligns perfectly with the market fundamentals. The dominance broke the rising wedge ( typically a bearish pattern)to the down side. the target of the breakdown can be seen on the chart.
My most reliable long term indicator is the monthly MACD. It shows a clear picture that the BTC dominance is entering a new bear cycle. I know that we are only on the 5th day of the month but the continuous decline of the MACD is so prominent that i can't help but appreciate more ALT/BTC pairs in my portfolio.
This is not a trading advice. Trade safe. Stay healthy and prosperous.
My most reliable long term indicator is the monthly MACD. It shows a clear picture that the BTC dominance is entering a new bear cycle. I know that we are only on the 5th day of the month but the continuous decline of the MACD is so prominent that i can't help but appreciate more ALT/BTC pairs in my portfolio.
This is not a trading advice. Trade safe. Stay healthy and prosperous.
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