Amazing BTC dominance. Made a long wick below 68 support yesterday and cam back above it. That means today majority of alts won't feel well. No wonder - its halving day. Even if it won't change BTC price, it certainly bring a lot of attention to the King.

Scenario 1: Dominance grow to ~68.65 and then pull back to 68 and below.
Scenario 2: Dominance make new higher high and hit 69.2 and in this case most possibly 70 as well.

@CryptoTrades #BTCdominance #Dominance

Dominance keep on knocking on 68 resistance. Each time it gets above, alts bleed. Each time it pullback, alts revive. If you are an alt trader, better watch it closely. We all want it to drop down a little.

@CryptoTrades #BTCdominance #Dominance

Dominance got above 68 SR again. Same scenarios we had on May 11th are valid now.

Scenario 1: Dominance grow to ~68.65 and then pull back to 68. At this point either drop below or give another bounce. During this scenario you can swing trade alts, as they will dump and pump with 2-3 days for each stage.
Scenario 2: Dominance grow above 68.65 and test ~69.2 resistance again. In case of breakout most possibly will get to 70 as well. That scenario assumes bloodbath for alts.

@CryptoTrades #BTCdominance #Dominance

Alts are pumping here and there. We've been preparing for this mini alt-season days and weeks before. Now that FOMO is growing - be careful ❗️BTC dominance show potential for bounce from 67 support. Its visible at indicators as well. This can be either a small bounce to ~67.2 level or bigger one to 67.6 that will hit alts. Don't jump on pumped coins now - most probably they will pullback.

@CryptoTrades #BTCdominance #Dominance

BTC dominance at 67 support. This is the crossroad for all crypto market. Either 67 support bounce and then grow to ~67.2 level or bigger one to 67.6 (that will hit alts). Or fall below it to 66.7 and below. In this case alts season continue.

@CryptoTrades #BTCdominance #Dominance

Folks, alts are pumping. And I keep on saying that you should be cautious at moment of global FOMO like this. BTC dominance went down through 67 support (alts pumped again). Now it is at 66.3 support. This one is stronger and indicators are crying for bounce as well.

@CryptoTrades #BTCdominance #Dominance

Been waiting for that bounce from 67 support, but Bitcoin gave alts two more days and bounced from 66.5 support. Now at 67 resistance. If will grow above, alts mini season is over for a while.

@CryptoTrades #BTCdominance #Dominance

Something I warned about in advance. Dominance broken the descending channel and grow to ~67.5. Soon good time to buy the dips 😉

@CryptoTrades #BTCdominance #Dominance

BTC dominance moves within descending channel and now near 65.45 support (comes from April). Be careful as alts might dump upon dominance reaching that level. Probably that will be a temporary retracement, but better fix profits and set dip buys.

N.B. So far we talk about bounce within downtrend. So its not that scary for alts as all bounces are temporary. But its worth keeping an eye on it, as in case of reversal (higher low), alts won't feel that well.

@CryptoTrades #BTCdominance #Dominance

Since last update 4 days ago when Dominance bounced from 65.7 support, it still moves sideway above the same level. This may be taken as bear flag/pennant forming. If so, dominance may continue retracing within same descending channel. But things can change if it manage to move above 66 SR. In this case sell your alts.

Stay safe 👍

@CryptoTrades #BTCdominance #Dominance

Cautious with your alts. BTC volatility and dominance at the edge of current channel trendline ❗️

@CryptoTrades #BTCdominance #Dominance

Posted that warning yesterday, but the move came out only today. So ..... emmm.... were you cautious? 😄

Yesterday post: Cautious with your alts. BTC volatility and dominance at the edge of current channel trendline

@CryptoTrades #BTCdominance #Dominance

Not yet a clear situation with alts folks. Bitcoin Dominance can easily pump above 66.38 and crush them all. I prefer to leave active trades to take profits with tight stops (yes, now stops are valid, at least below yesterday dips). And for new trades look for deeper entries.

@CryptoTrades #BTCdominance #Dominance

Finally it happened. BTC dominance grown above 66.38 and now moves towards 66.5-66.6. Hopefully you've fixed your profits and now started accumulating new long positions in alts 👍

@CryptoTrades #BTCdominance #Dominance

BTC dominance made a bullish move yesterday and now pulling back. If bounce from 66 support, can continue growing. That may end bullish season for most of alts, at least those with weak fundamentals.

@CryptoTrades #BTCdominance #Dominance

This BTC dominance grand fall make me feel very cautious. You know that each sharp move is followed by retracement. And although it is not over yet, this zone look like a perfect place for bounce.

Be careful, especially now. Don't FOMO and buy pumping charts (unless you scalp them at small timeframes). This bounce may draw the top for most of coins. Look for dip buy zones. Soon will be the time to catch some falling knifes 🤘

@CryptoTrades #BTCdominance #Dominance

Yesterday I wrote that Dominance is near important support level which should be taken as precaution for taking new long entries at current Alts prices. The picture stays the same. Day candle stopped above support and today also here. If there will be a doji on today's candle close bounce potential increase.

@CryptoTrades #BTCdominance #Dominance

BTC dominance back to the bottom of the channel. Remember the rule - channel remains valid until its broken. Therefore we should be ready for a bounce here somewhere within nearest weeks.

If no bounce and BTC.D break down - alts season will be extended. Considering that Ethereum is gaining dominance towards the merge in September there is a good chance for break down.

@CryptoTrades #BTCdominance #BTCDOM

Another instrument you can use for alts trading is BTC dominance chart (BTC.D). When dominance is rising money moves from alts into BTC. When its falling money moves either in USDT or alts. As simple as this. Dominance chart react good to TA rules and so easily readable which makes it a valuable instrument for alts trading. Hint on how to read it is on the chart.

P.S. Last time I posted update I marked out the channel within which BTC.D moves. Now at the very bottom. So soon we will see if we have an alts season or mid/long term dominance bounce back to 46.8-48% (and alts crash).

@CryptoTrades #BTCdominance #BTCDOM

Potential quick altseason for a week 😎

@CryptoTrades #BTCDominance