Ascending Triangle - Bitcoin dominance
#Bitcoin on the #Bitcoindominance chart, we can see the formation of a bullish ascending triangle, with an apex coming up over the next few days.
When #BTC dominance rises, it usually happens as the crypto market is dropping. Bitcoin being the safest of the crypto's, it loses the less vs. altcoins.
I would say that I expect Bitcoin dominance to be breaking up and out by Saturday, although it could happen sooner. Most people expect that Bitcoin to become bullish the second September is over, so a crash on Friday/Saturday will provide maximum fear for the market, causing retail investors to panic sell, while experience investors pick up their favourite coins at a discount.
I expect that by late next week, Bitcoin dominance will begin to wane and the next leg in the bull market will begin.
When #BTC dominance rises, it usually happens as the crypto market is dropping. Bitcoin being the safest of the crypto's, it loses the less vs. altcoins.
I would say that I expect Bitcoin dominance to be breaking up and out by Saturday, although it could happen sooner. Most people expect that Bitcoin to become bullish the second September is over, so a crash on Friday/Saturday will provide maximum fear for the market, causing retail investors to panic sell, while experience investors pick up their favourite coins at a discount.
I expect that by late next week, Bitcoin dominance will begin to wane and the next leg in the bull market will begin.