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Bitcoin dominance is forming a rising wedge pattern on an hourly time frame. A rising wedge is a bearish pattern and usually breaks in a downward direction. If Bitcoin dominance break below the 44.50%-44.60% area then we see a good bounce in altcoin. If Bitcoin dominance go above the 45.60% resistance level then we see more blood bath in altcoins. The major resistance for Bitcoin dominance is 48%-49% area.
Supports areas : 43% area and 44.27%
Remember to always follow your trading plan regarding entry, risk and trade management.
Goodluck!
Bitcoin dominance is forming a rising wedge pattern on an hourly time frame. A rising wedge is a bearish pattern and usually breaks in a downward direction. If Bitcoin dominance break below the 44.50%-44.60% area then we see a good bounce in altcoin. If Bitcoin dominance go above the 45.60% resistance level then we see more blood bath in altcoins. The major resistance for Bitcoin dominance is 48%-49% area.
Supports areas : 43% area and 44.27%
Remember to always follow your trading plan regarding entry, risk and trade management.
Goodluck!
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