◻️ Trading Signals Based on the Bitcoin Dominance Index 📊
⚜️ The image shows trading signals based on the Bitcoin Dominance Index, divided into four main scenarios based on the direction of dominance and the direction of Bitcoin’s price:
1. Uptrend in Dominance and Uptrend in Price:
• Bitcoin is performing better than altcoins.
• There is a positive market preference for Bitcoin.
• Signal: Buy Bitcoin.
2. Uptrend in Dominance and Downtrend in Price:
• Altcoins are performing better than Bitcoin.
• There is an expectation of a market downturn.
• Signal: Sell altcoins.
3. Downtrend in Dominance and Uptrend in Price:
• Altcoins are performing better than Bitcoin in a bullish market.
• Signal: Buy altcoins.
4. Downtrend in Dominance and Downtrend in Price:
• The market, in general, may be in a bearish trend.
• Signal: Withdraw funds and sell Bitcoin.
⚜️ For the risk-averse, it can be a signal to buy Bitcoin when prices are sufficiently low.
In summary, the table provides guidance on whether to buy or sell Bitcoin or altcoins based on the current market trends.
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