Bitcoin Dominance - Channel Break or Unwind

10 Jul 2021

BTC.D

https://www.tradingview.com/chart/9xx2XrsF/


Important Level approaching on the BTC Dominance Chart. A break of the downward channel to the upside could potentially be indicative of further downside in Bitcoin and the broader crypto market , further confirmed should the 48.32% horizontal resistance getting breached.

To the downside a breach below 44% and red trendline capping below the 2nd parallel line likely spurs a massive Altcoin Rally.

A few important news events coming up Musk and Dorsey 21 July , SEC response to Warren 28 July , ETH London Hardfork 4 August. The ETH news would be the likeliest to keep Dominance within the Channel range but this news is the last rather than the first , but in the world of crypto always expect the unexpected.



cheerio

FXcrypto