$BTC bounced off the lower boundary of the range, and H4 closed back within it. The targets could be the midpoint of the range and the range high itself. I entered a spot position as part of the challenge (look it up on Telegram: kos crypto)
We're seeing a small market-wide dump right now, and FOMC is coming up in a few hours. But I don't think the dump will be severe, and I expect a pump into the 92–97k range soon. Whether it comes with a liquidity sweep above or not, nobody knows, but this chart reminds me of the accumulation phase in 2023. I’m planning to catch this move.
I’m seeing people online increasingly point out moving average crossovers (death cross/golden cross, etc. 😅), supposedly signaling an imminent drop in Bitcoin dominance.
I’m afraid I have to disappoint some of you—or maybe make you happy. Price has been trading sideways for 400+ days, and these crossovers mean absolutely nothing. Within this range, we’ve already seen some altcoins pump:
$ZEC went from a $1B market cap to its current $23B; $HYPE from 7b → 23b; $Near from 1.2b → 7b; $UNI from 1.5b → 5.5b, and so on, while dominance is still holding steady.
I think dominance could $ still rise, and that doesn’t mean altcoins have to fall. It just means $BTC will rise faster over a certain period. But when we see dominance drop sharply to lower levels, that will tell us it’s time to get ready to exit the market. The key dominance levels for me are 48%, 40%, and even lower.