BTC.D Analysis of Bitcoin Dominance
According to the chart, the current ratio is at a very strong support level over the past years since 2019, with the ratio at 61% being a critical point in the history of dominance.
Multiple times, this ratio has been broken, leading to the collapse of dominance and subsequently causing a market explosion and significant price increases.
Now we are about to touch this ratio after a strong rise in dominance that reached 66%. We had previously expected a correction from this ratio, and indeed the Bitcoin dominance collapsed, leading the market to surge.
Thus, the current scenario is either that it will be broken as usual, leading to further collapse of dominance and more upward movement for the rest of the market and alternative currencies,
or a direct rebound from this ratio, increasing Bitcoin dominance, which would result in corrections for alternative currencies. This is the natural and logical occurrence to date due to rising indicators, which are always followed by a market calm before continuing the upward journey.
However, it is not necessarily required for this to happen, as the overall situation is still good, and there are no signs of a downturn or correction. Therefore, we always move with the market and follow its changing events.
Summary
Try as much as possible to activate stop-loss orders for your trades, accept profits for yourself, and set exit points from your trades if any sudden sharp drop occurs.
Continue with your trades while being aware of the market's volatility.
Good luck, God willing.
Dr. Mohamed Shalsh
#btc
According to the chart, the current ratio is at a very strong support level over the past years since 2019, with the ratio at 61% being a critical point in the history of dominance.
Multiple times, this ratio has been broken, leading to the collapse of dominance and subsequently causing a market explosion and significant price increases.
Now we are about to touch this ratio after a strong rise in dominance that reached 66%. We had previously expected a correction from this ratio, and indeed the Bitcoin dominance collapsed, leading the market to surge.
Thus, the current scenario is either that it will be broken as usual, leading to further collapse of dominance and more upward movement for the rest of the market and alternative currencies,
or a direct rebound from this ratio, increasing Bitcoin dominance, which would result in corrections for alternative currencies. This is the natural and logical occurrence to date due to rising indicators, which are always followed by a market calm before continuing the upward journey.
However, it is not necessarily required for this to happen, as the overall situation is still good, and there are no signs of a downturn or correction. Therefore, we always move with the market and follow its changing events.
Summary
Try as much as possible to activate stop-loss orders for your trades, accept profits for yourself, and set exit points from your trades if any sudden sharp drop occurs.
Continue with your trades while being aware of the market's volatility.
Good luck, God willing.
Dr. Mohamed Shalsh
#btc