Bitcoin Dominance - What It Means for Altcoins
By analysing the Bitcoin Dominance we can be one step ahead of the market.
We can get an idea of the strength/weakness of the altcoin market in the next days/weeks and we can make decisions on what to long/short based on that.
The BTC.D chart in the 1D time frame is showing many wicks to the downside at the lows but price not progressing any further which usually signals a reversal, perhaps to 57.5% (?).
Potentially, it's a retrace before continuation to the downside which tells us that altcoins in the HTF should continue going up, but in the LTF we should expect 10%-20% pullbacks due to the possibility of Bitcoin going down towards our 50% wick level.
