Bitcoin and Dominance Chart Review Update #39 ?

in #bitcoin4 years ago (edited)

Bitcoin chart review

BTC Chart

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BTC and Dominance CHART Published by Philosof at #Tradingview
https://www.tradingview.com/u/Philosof

Comment: Bull flag pattern is at ~8630. So same logic as in all previous reviews. While above 8630 BTC possess potential to reach 9600 and higher levels.

Now price hold above 8600 support and we may expect re-test of ~8800-8850. If drop below that support, nearest target zones 7950 & 7600. Next 7170. Drop below may create endless wick. Overall picture look bearish - doesn't look it will grow much more before the dump. Possible scalping long with tight sl.

N.B. Last existing CME gap left since Aug'19 located between 11695-11855

Resistance: 8800 - 9050 - 9200 - 9600

Support: 8630 ✅ 8400 - 7950 - 7555 - 7170

BTC-DOMINANCE Chart

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Dominance didn't pull back. It grows while BTC grow and grows while BTC falls. Most probably alts will have less and less money as Bitcoin is getting closer to halving.

Positive news - it won't stay this way forever. After a week or two of dumping alts most probably will receive back all the attention King took away during hype times. Same as its price won't grow straight away as halving done.

#BTCdominance #Dominance

Fear & Greed index: 44 (<= 45 <= 40 <= 40 <= 44)

BTC Dominance: 65.9% (<= 65.6 <= 65.5 <= 65.3)

24h Volume: $163 billion (<= 154 <= 144 <= 196)

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