BTC.D 49% tagged precisely! ...and now we drop
Diupdate
Traders,
As stated numerous times previously, I have virtually zero expectations that Bitcoin dominance will exceed anything past 49%. Today we tagged that threshold exactly and now I expect a drop. In accordance with the dominance fall-off, I am expecting Bitcoin to retest the neckline of it's Cup and Handle pattern at
25,200. Though, I seem fairly certain regarding Bitcoin's pullback (and I am), I am less certain about what the altcoin space will do. For this reason, I am currently all in stable until alt direction can be more accurately determined. Stay tuned. If I get the right mix of signals, I will be entering quite a few trades to catch any move up. We are currently on a 16 in a row win streak long. I hope to extend this streak soon.
Best,
Stew
As stated numerous times previously, I have virtually zero expectations that Bitcoin dominance will exceed anything past 49%. Today we tagged that threshold exactly and now I expect a drop. In accordance with the dominance fall-off, I am expecting Bitcoin to retest the neckline of it's Cup and Handle pattern at
25,200. Though, I seem fairly certain regarding Bitcoin's pullback (and I am), I am less certain about what the altcoin space will do. For this reason, I am currently all in stable until alt direction can be more accurately determined. Stay tuned. If I get the right mix of signals, I will be entering quite a few trades to catch any move up. We are currently on a 16 in a row win streak long. I hope to extend this streak soon.Best,
Stew
Catatan
Neckline is at 25,200. Not sure why the original text was changed? TV does that sometimes. Sorry.
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