Bitcoin dominance update ✍️
Good morning to all my friends. I hope you all are doing well. I am having a good day. Market is looking for a correction and why this happening because bitcoin dominance is pumping. So let's have a close look on BTC.D
BTC Dominance Update: When Could a Dump Happen?
BTC dominance is currently at 60.87% and in an uptrend. However, if it breaks below key support levels, a potential dump could occur.
Important Support Levels:
1st level:- 60.42% - This is the first critical level. If dominance falls below this, weakness may start showing.
2nd level:- 59.98% - A strong support level. Breaking below this could trigger a significant dump in dominance.
Signs of a Potential Dump:
If dominance closes below EMA 200 (59.98%).
A sudden drop in volume or the formation of large red candles. A sharp rise in altcoins (indicating BTC dominance is decreasing) . Let's see what happens in upcoming days. That's it for today. I hope this will help you to understand about bitcoin dominance. Thanks & have a good day!!