Bitcoin Dominance with TOP10/20 Altcoins | Explained

12 ביוני 2020

The Bitcoin Dominance (BTC.D) chart isn't as straight forward as it looks... It being bullish or bearish doesn't necessarily mean that Bitcoin will go either up or down... Let me explain.

Most of the cryptocurrency market cap. is spread throughout the TOP10/20 cryptos, and these will determine how this chart will look.

If Bitcoin remains stable while the TOP10 altcoins drop, we can see BTC.D rising while BTCUSD remains the same.

There is also the scenario where you can see Bitcoin dropping but the TOP altcoins dropping faster than BTC, this would also lead BTC.D to increase.

At the present time, Bitcoin Dominance is likely to drop.

We have a bearish Bitcoin and many of the altcoins are starting to grow.


BTC.D Chart Signals

On this chart, we have mixed signals with the bears/red having the upper hand.

Prices are trading below EMA50 and EMA10.
The trading volume is also lower than before.

The RSI is below 50 (leaning bearish) while the MACD is trading below the neutral zone.
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Bitcoin tends to move together with the TOP altcoins when it drops... But when Bitcoin is going sideways, these same altcoins instead can jump.

So it is possible to see the Bitcoin Dominance dropping and the altcoins producing higher lows and more growth.

Namaste.