BTC.D Slipping ! ALTSEASON Loading ?
Market Cap BTC Dominance, % CRYPTOCAP:BTC.D
This is BTC.D on the daily chart.
It has shown a strong relationship with the 50MA (blue/cyan line), often using it as support. While there were a couple of daily closes below it in the past, they lasted only 1 or 2 candles.
Now we’ve seen 4 consecutive daily closes below the 50MA (including today), which increases the likelihood of a deeper move to search for support.
The next key support zone (green rectangle) is defined by the 200MA (red line) and the 62.25% level (black line) — both of which acted as support before.
If BTC.D drops into that zone, ETH and altcoins could experience a strong bounce.
Always take profits and manage risk.
Interaction is welcome.
source https://www.tradingview.com/chart/BTC.D/5rZYKmV8-BTC-D-Slipping-ALTSEASON-Loading/
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