Is #Bitcoin Dominance falling down?
#Bitcoin Dominance 1W chart;
I would like to start by telling you that I have some good news
As I mentioned in the previous chart, 58.25% and then the OB resistance level of 62% are important.
I think it will have much more positive effects if it reaches 62% because it will weaken the resistance at this level.
This is the level that will help us in the next bull cycle. That's why I care about it.
Now for the good news...
As can be seen on the weekly chart, the RSI seems to have begun to mismatch.
After a fake out to the resistance level at 58.25%, I think that it will ease down for the initial target of the pattern.
After the 50% level is seen, I expect it to start a rise again and to turn its direction down as it tests the OB level, which is the second resistance while completing this pattern.
I would like to start by telling you that I have some good news
As I mentioned in the previous chart, 58.25% and then the OB resistance level of 62% are important.
I think it will have much more positive effects if it reaches 62% because it will weaken the resistance at this level.
This is the level that will help us in the next bull cycle. That's why I care about it.
Now for the good news...
As can be seen on the weekly chart, the RSI seems to have begun to mismatch.
After a fake out to the resistance level at 58.25%, I think that it will ease down for the initial target of the pattern.
After the 50% level is seen, I expect it to start a rise again and to turn its direction down as it tests the OB level, which is the second resistance while completing this pattern.
For more you can follow me on X. @UgurTash
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