Analysis $BTC . Dominance 10/12/2024 It wasn't many days a | Ualifi Araújo on Binance Square

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Bullish

Analysis $BTC  . Dominance 10/12/2024
It wasn't many days ago that I posted about Bitcoin Dominance, see that we had a good advance in this drop and of course, this caused those weeks of highs that we all love.
The recent drop in the price of BTC ended up making its dominance jump before making a clear break of this gray region on the chart, around 54.76% which was exactly what we needed, but we are still doing well in my opinion.
Notice that Dominance went to the 57.71% region to make a bearish retest and is already starting to be rejected there, and as we spend more time here, it is very likely that we will break this 56.82% level that is still acting as some support, break this and we will be going down again, we will reach 53% very quickly when this happens.
Regarding Dominance recovering 58%, I don't think it's something we'll do, especially because the EMA 200 (4h) is already starting to act as a strong resistance here. We'll soon fall again and #altcoin   should rise again quickly. 
This is a good chart for you to follow, obviously it will always give you some clue about the market's next move. 
I AM EXTREMELY OBJECTIVE ON ALTCOINS! 
* If you have any questions, don't hesitate, go to my INSTA (it's in the fixed image of my profile here), call me and ask your questions.

Ualifi Araújo

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Bullish

$BTC Analysis. D 11/29/2024

DOMINANCE of #BTC , this is another one of those charts that we don't see very often, maybe that's why most people get lost with such simple and predictable movements of Bitcoin and #altcoin

It's been a little over a month since I posted about this, it's clear (by the gray box I made just above the red band, that we had a long period of deviation from this channel that we had been faithfully following since MARCH 2023.

This deviation that took dominance to the 61.55% region was really annoying and costly for Altcoins, of course it is explained by the FOMO that we had and still have from large institutions for BITCOIN. However, such high dominance for so long is obviously unsustainable and we started to fall quickly. Note here that the fall is being fast, and obviously the Altcoins are rising rapidly and continue to break their long-standing bearish structures.

The level just below is where I'm looking (57%), Why? Simple, if we have a clean break of this level, then we won't need to do any bearish retests at 59.6%, which would give strength to the altcoins to continue rising without necessarily needing to make a bigger pullback.

If we don't achieve this, then a dominance bounce to those levels is more likely and would cause a pullback in the altcoins, notice that I said REDUCE and not CORRECTION. However, I'm inclined to think that we can make a clean break of this level just below and continue with a good performance of the altcoins, without needing a pullback.

Gentlemen, prepare your wallets, I warned you last month that YOU SHOULD BUY good Altcoins, if you didn't do that, I'm sorry...you're out of the party!

I AM EXTREMELY BULLY ON ALTCOINS!

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BTC

103,281.82

+0.05%