BTC Dominance: Short-Term Dip or Long-Term Rally?
📊 Bitcoin dominance has been cruising in an uptrend channel for a while, but it recently broke below the channel's floor, dropping to around 58%. Right now, it’s bouncing around in a key zone between the 60% resistance and 56% support.
What’s Coming Next?
🔴 Short-Term Bearish Scenario: If dominance can’t hold above 60%, we might see it slide back to the critical 56% support. This could give altcoins some breathing room and maybe even spark a decent rally. Perfect opportunity for those eyeing altcoin trades!
🟢 Long-Term Bullish Scenario: If dominance builds a solid base at 56% and starts climbing again, it could aim for 64% and even push toward 68–70%. If this plays out, Bitcoin’s gonna take charge of the market again, and altcoins might feel the heat.
The Bottom Line:
Short-Term: A drop to 56% could mean altcoins steal the show. Keep an eye on this level!
Long-Term: If Bitcoin flexes its muscles and dominance climbs to 68–70%, it’s probably time to lean heavier into BTC in your portfolio.
✍️ This analysis can be a solid guide for balancing your portfolio between Bitcoin and altcoins. Watch those 56% and 60% levels closely to make smart moves!
source https://www.tradingview.com/chart/BTC.D/QSbdq8ww-BTC-Dominance-Short-Term-Dip-or-Long-Term-Rally/
No comments:
Post a Comment