The moment of truth. Dominance index wicked below last fractal low. May lead to correction I've been waiting for if drop down there again.

@CryptoTrades #BTCDOM

BTC Dominance index finally lost 1211 SR and moving towards last low at 1180 or support below it at ~1165. Re-test of 1211 should also happen within this swing move. While Dominance moving down alts are bullish.

@CryptoTrades #BTCDOM

And here is BTC dominance chart. Making a swing up now. Resistance at 1211 is level at which we should get ready to jump into longs. Assuming DXY will also find resistance at that moment. Lots of factors to consider. That is why I'm cautious. Don't want 1-4 hour trades which you can't even leave open without worrying they dump next moment you leave the screen.

@CryptoTrades #BTCDOM

BTC dominance bounced from nearest "green" support zone and heading towards 1200-1210 resistance for re-test.

Higher timeframes possible scenarios:
1) Rejection from ~1210 and drop another leg down to 1135. That scenario is bullish for alts vs BTC. Considering dominance usually falls when BTC is "stable" it can happen in case BTC recover above 37k.
2) Breakout to the top of channel at ~1250 to form a bull flag. This scenario is very bearish for alts and most probably will take place in case BTC either dump hard to 33-34k (with chance to dump lower) or pump above 39k. In both cases BTC dominance will pump as well.

@CryptoTrades #BTCDOM

Recently I gave up on trying to predict BTC dominance moves. Instead I'm building scenarios based on BTC price action. This way it works better as we are starting BTC dominance forecast from where it should be - Bitcoin. As you see, BTC grown above 37k which gave investors some confidence in temporary stability of crypto market and so money went into alts.

The rest depends on whether BTC will break the trendline and row above 39k once again or we see another rejection and more choppiness. But so far on short term dominance is pulling back to 1135 support.

@CryptoTrades #BTCDOM

Something to watch today as well. BTCDOM at trendline which corresponds with 8H MAVW. May bring some bullishness to alts if dump through. Note that bullishness is for vs BTC prices. USDT still depend on BTC price action.

The opposite scenario also worth considering. If BTC pump/dump hard its Dominance will pump and that won't be good for alts short term.

@CryptoTrades #BTCDOM

So far BTCDOM bounced from 8H MAVW and grow above the trendline. Situation for alts not critical yet as full dominance reversal should happen only after growth above 1201 and close above 1211. Till then chance for mini alts season remains (if dominance dump). But if BTC go into correction most probably dominance will pump.

@CryptoTrades #BTCDOM

You must have noticed me being very cautious with alts recommendations lately. Seen a lot of them with good potential but decided to hold signals not to fomo anyone while market was unpredictable.

If today BTCDOM lose 1170 alts will pump. Really waiting for this moment to happen 🙂 First because I love alts pumping. Second - because when dominance dumps it means Bitcoin got stable in its consolidation or uptrend and that is another profit.

@CryptoTrades #BTCDOM

BTC dominance broke out 1211 resistance. Last swing high at 1255.9

In general regardless if BTCDOM will breakout above last high or not this chart is definitely reversing up so next BTCDOM pullback is a good time to flip alts into BTC or fiat. While it pumps - hunt for a moment it slow down to buy the dips in alts.

@CryptoTrades #BTCDOM

BTC dominance forming Cup&Handle pattern. It doesn't have 100% success rate, especially when we chart Dominance which often doesn't behave same as usual chart. Often C&H return back before breaking out. In this case 1211 SR is the first zone to watch for in case of pullback.

What I wrote yesterday remains valid:
In general regardless if BTCDOM will breakout above last high or not this chart is definitely reversing up so next BTCDOM pullback is a good time to flip alts into BTC or fiat. While it pumps - hunt for a moment it slow down to buy the dips in alts.

@CryptoTrades #BTCDOM

And just a reminder about BTC dominance chart forming cup and handle pattern. Something to keep in mind if you see altcoin pumping and feel fomo to buy it. Probably not the best time now 😏

@CryptoTrades #BTCDOM

BTC dominance haven't yet broken out from cup&handle pattern I've drawn 6 days ago. It doesn't have 100% success rate so its normal. Today D candle forming a bearish doji which may lead to pullback on Monday. Avoid opening shorts now - risky.

@CryptoTrades #BTCDOM

BTC dominance chart. In addition to Alts Bull Market chart to have a wider sense of potential future scenarios. Now BTC Dominance is bouncing. That means that most of alts (those with weak or fake trends) will pull back. Once BTC.D engage 42.3-42.7% SR zone there will be two possible scenarios:
1) Rejection and drop lower to ~40% - that scenario is bullish for alts vs BTC.
2) Breakout and growth to 43.6% resistance with potential for reversal and growth higher to 44.6% and above. This scenario is bearish for alts vs BTC.

USDT prices depend on Bitcoin price. So if Bitcoin price grows Alts vs USDT can also grow even with dominance rising. But in this case you must be very careful about what you trade. Choose only coins with strong trends.

@CryptoTrades #BTCDOM #Dominance

BTC dominance broke out. Close above 46.54% will eventually take it to 47.7%

In general bullish reversal at this moment look like an established fact. BTC dominance may pull back to 43-44% at some moment (whatever will be the reason for that miracle to happen), but on high timeframe it tend to grow higher, breakout 47.7% and get to 58-60%. How long will it take hard to predict - maybe 2-3 months.

@CryptoTrades #BTCDOM #Dominance

BTC dominance look very close to 3rd impulse that should take it to 47.7% and eventually to the top of this consolidation channel at 48.9%

Long term targets remain the same - 58-60%.

@CryptoTrades #BTCDOM #Dominance

BTC dominance pumped to 48.45% 👌🏼 And today jumped out of the window 😅 Guys, if that move continue down then BTC bottomed. At least till BTC dominance find next support. Nearest strong levels on the chart are 45.5%, 44% and 42.9%

@CryptoTrades #BTCDOM #Dominance

The funny thing about current market state is that alts against BTC actually don't look that bad. And as I forecasted in previous review 4 days ago BTC dominance going down which might be a good indicator that BTC should find the bottom soon.

@CryptoTrades #BTCDOM #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

Premium Trade

Entering #BTCDOM Buy Setup in two entries at 1680 ~ 1767 (Current Price)

Stoploss - 1640

Targets - 1820/ 1880/ 1980/ 2200/ 2500

@CryptoTrades