🚨 BİTCOŞAR BTC.D (#Bitcoin Dominance) Special Analysis (VIP Analysis and Signal)
#BTC.D (#BitcoinDominance ) closed the daily candle at 57.77%. It was a very strong, volume-driven downward close, and it even broke through two support levels. The supports at 58.50% and 58% were broken. In the upcoming period, holding above 58% would signal a potential recovery and upward movement for BTC.D. However, the likelihood of holding above this level seems low, but you never know. As long as the 57.50% support is not broken, there shouldn’t be any major issues.
A decrease in BTC.D does not necessarily mean an increase in Bitcoin's price, but it could be associated with the following scenarios:
- While Bitcoin is rising, altcoins might be rising even stronger.
- While Bitcoin is stable, altcoins could be rising.
- Even when Bitcoin is falling, if altcoins fall less, this could lead to a decrease in BTC.D.
Conclusion:
A drop in BTC.D indicates that the market is shifting from Bitcoin to altcoins, but it would not be accurate to directly relate this to Bitcoin's price movements. This situation could lead to different outcomes depending on market dynamics.
Current Resistances: 58% - 58.50% - 59.20%
Current Level: 57.76%
Current Supports: 57.50% - 57% - 56.50%
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