Greetings .
I propose to consider the daily schedule of bitcoin domination, not the sado mazo domination as you think), but the domination of the percentage of bitcoin in the money in the total capitalization of all cryptocurrencies.
It is calculated simply for today, according to SMS, the total market capitalization of all cryptovoltaic currencies is 446 billion, and the capitalization of bitcoin is 290 billion. That is, we divide 290 by 446 and multiply it by 100% and get a percentage share of 65%. Why should I know these percentages will think many people, the fact is that the dominance is a trigger of mood in the market. With a sharp rise in the price of bitcoin large players pour money into the bitcoin, the other smaller players follow and sell alts, a similar pattern is observed when dumping a bitcoin. As in the bitcoin and stablcoins USDT USDC fix profit or loss, and again the altoins dump. When are the altocoins pumped? This happens when the price of bitcoin is rising smoothly, and when its price moves sideways. As well as when new historical or psychological peaks are reached. I hope it is clear with this.
Let's return to the chart of dominance, it is technically analyzable like everything else.
The price has shaped the descending channel, and as we can see in the last dump of the dominance cycle from May to August was the alto-koins pamp season, from September to October was formed an upward triangle and the dominance made a breakthrough, and rose to the upper boundary of the channel, which acts as a resistance, in the same zone is a horizontal resistance level. On this basis, we can expect with a high degree of probability a retreat from this zone and a pullback to the previous resistance zone, which may or may not turn into support, and the dominance will again go down to the lower boundary of the channel and we will see again pamps of altcoins, support zones 64, 62, 57. Nobody knows the future, so let's consider the second option, this is another test of the upper boundary and the horizontal level and fixation above this zone, in this situation we will see the continuation of altcoins dumps.
If the information turned out to be useful to you, put a liking and sign, so as not to miss anything.
I propose to consider the daily schedule of bitcoin domination, not the sado mazo domination as you think), but the domination of the percentage of bitcoin in the money in the total capitalization of all cryptocurrencies.
It is calculated simply for today, according to SMS, the total market capitalization of all cryptovoltaic currencies is 446 billion, and the capitalization of bitcoin is 290 billion. That is, we divide 290 by 446 and multiply it by 100% and get a percentage share of 65%. Why should I know these percentages will think many people, the fact is that the dominance is a trigger of mood in the market. With a sharp rise in the price of bitcoin large players pour money into the bitcoin, the other smaller players follow and sell alts, a similar pattern is observed when dumping a bitcoin. As in the bitcoin and stablcoins USDT USDC fix profit or loss, and again the altoins dump. When are the altocoins pumped? This happens when the price of bitcoin is rising smoothly, and when its price moves sideways. As well as when new historical or psychological peaks are reached. I hope it is clear with this.
Let's return to the chart of dominance, it is technically analyzable like everything else.
The price has shaped the descending channel, and as we can see in the last dump of the dominance cycle from May to August was the alto-koins pamp season, from September to October was formed an upward triangle and the dominance made a breakthrough, and rose to the upper boundary of the channel, which acts as a resistance, in the same zone is a horizontal resistance level. On this basis, we can expect with a high degree of probability a retreat from this zone and a pullback to the previous resistance zone, which may or may not turn into support, and the dominance will again go down to the lower boundary of the channel and we will see again pamps of altcoins, support zones 64, 62, 57. Nobody knows the future, so let's consider the second option, this is another test of the upper boundary and the horizontal level and fixation above this zone, in this situation we will see the continuation of altcoins dumps.
If the information turned out to be useful to you, put a liking and sign, so as not to miss anything.
Komentarz:
the dominance is growing in anticipation of a strong bitcoin movement, there is a squeeze to the level of 64, most likely we will see a breakthrough and a test of the trend.
