BTCDOM | BULLISH CHANNEL BROKEN

BTCDOM has been trading in a bullish parallel channel .
Now the price has broken the channel downward side after being rejected by resistance.
Binance BTCDOM Index is a cryptocurrency price index reflecting the market dominance performance of Bitcoin . The BTCDOM Index is a metric that traders can use to quickly get a sense of Bitcoin's value relative to that of the broader cryptocurrency market.
The BTCDOM Index provides insights into the market and can be used as a tool to speculate on Bitcoin’s relative strength against altcoins. Essentially, the index measures the demand for Bitcoin relative to altcoins.

In short, When altcoins gain market share relative to Bitcoin , the BTCDOM index loses value. Conversely, when Bitcoin gains market share relative to altcoins, the BTCDOM index will gain value.
Manage your trades accordingly.