$BTC.D Bitcoin Dominance Mixed Signals

Bullish and Bearish Scenarios

$BTC.D Bullish Targets
Price action is above the 1hr yellow 200MA.

If price action stays above 1hr 200MA, we look to the 2hr 200MA next for supportor resistance.

The 2hr 200MA is at 63%, which is near the target of the pink falling wedge.

If price action can close 1hr candles above, the white 21MA price is more likely to hit the upside target.

$BTC.D Bearish Target
1) 63.13%

$BTC.D Bearish Senario

You can also see a blue head and shoulder reversal pattern.

If price action breaks below the yellow 1hr 200MA, the downside target is likely to hit.

$BTC.D Bearish Target
1) 60.52%

When $BTC.D Bitcoin Dominance goes down, it signals money flowing out of $BTC.

In my next couple of posts, I will cover $USDT.D (Stable Currency Dominance) and $OTHERS.D (Altcoin Dominance) to find out where money is likely to flow if $BTC.D breaks to the downside.

Wait for confirmation of the move. There is a higher probability of $BTC.D going up right now.

However, price action has also just broken below the 1min 200MA. If price action can't get above it again, soon price action will continue to the downside.

Let's wait for further confirmation.

NFA, DYOR ⚠️

#Crypto # Trading #BTC # Altseason